Not a bad idea.
More valuable then bitcoin.
Personally, I always thought that one of backing compounds should be foundry silicon.
Relatively difficult to make in quantity but highly useful. Therefore fungible.
Don’t tell Vlad.
A dollar backed by gold. I wonder what the inflation rate would be.
A dollar back by the full faith and credit of the United States. I know what the inflation rate is and has been.
A currency backed by gold and other commodities such as rare-earth elements sure sounds stable.
NATO (Obama, McCain, Clinton) murdered Mohamar Gaddafi after he made his first moves to create the “Gold Dinar”, a Pan-African currency based on gold. The objective of this new currency was to divert oil revenues towards state-controlled funds rather than American banks. In other words, to stop using the dollar for oil transactions. Countries such as Nigeria, Tunisia, Egypt and Angola announced they were ready to change their currencies. One month later the “Arab Spring” (Samantha Power, Victoria Nuland) commenced, and shirtly thereafter came Gaddafi’s ignominious end.
What some fail to understand is being backed by gpld alone is one thing, but being backed by gold and other things (such as silver, platinum, lithium, etc. etc) is quite another thing.
None of them have a valid currency. They are all fighting after being stuck with Rubles and Yuan they cannot exchange!
Why not just mint coins made of silver again? I mean as opposed to blindly trusting these criminal countries to be able to back up their currency with what they promise?
Seriously, trading a fiat currency for yet another Ponzi scheme has no appeal to me.
Gold or silver. Period.
so who’s the bank?
who holds these elements??
Exactly...
Whenever I need cash I just sell some of my rare earth elements to my next door neighbor.