Someday the dance will end for our currency just like it has for the NASDAQ and will end for our current real estate mania.
Full Faith and Credit
... What will happen to the "full faith and credit of the United States government"
backing the US dollar then? How about the stock markets, bond markets et al? ...
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Not a bad bet, in my estimation. At least in our lifetimes.
Thje other way is a circulating gold coinage with the free coinage of gold. You take 5 ounces of gold to the treasury and the treasury gives you 5 ounces of gold coins. These coins could circulate beside the fiat currency and would be an instant visible-to-everyman check on inflation. Either or both would be of immense value to the economy as they would vastly reduce the costs of dealing with fluctuating and less than perfectly predictible values of currencies.
Copyright (c) 1965.