The guy can’t even write English and you think people should follow his advice?! It’s backED, no back. Gold back currency is just proof Armstrong is a moron. Gold BACKED currency on the other hand... is actually still a silly idea. The world economy is far too large to actually try to back it with anything. Not to mention gold is only valuable cause we say so, just like every other currency ever.
Gold actually has some unique and beneficial qualities, it evidently is good paving material as well since The Good Lord uses it to pave his roads.
” The world economy is far too large to actually try to back it with anything”
A -profoundly- ignorant lack of understanding of the meaning of gold backed. I cannot help but wonder how much gold you think needs to exist to have a gold backed currency.
Little minds see little things and miss the important things.
By the way, the value of gold is not what matters.
What matters is that governments need some means of limiting how much paper they can print, whether money, bonds, etc.
Gold is limited in quantity, hard to counterfeit and easy to appraise,
It is dangerous to ridicule the value of gold when it has been held in such high esteem for how long? This story mentions 3100 BC.
I am not a gold bug, but I do believe one should have a litle of everything since we can not predict crazy
The author is illiterate, yet, many will think the idiot is a genius.
Maybe the author is referring to these: https://www.goldback.com/ ;-)
The new QFS system will require asset back currency. It can be gold, silver, platinum, diamonds, oil etc. The US will be gold backed. The BRICs system is the start of the new global asset backed system. I predict France and Germany will ask to join the near future.