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streamfortyseven's avatar

The trouble with gold or silver backed digital currency - or even paper currency - is that the currency is very rarely if ever redeemable for the physical metal. You need to be able to get one silver $1 coin or gold $20 coin, each coin being one ounce, on demand, for every digital or paper note issued and in your possession. If you can't do that, the currency is prima facie fraudulent. As for the Administrative State, I suggest this - https://scholarship.law.bu.edu/cgi/viewcontent.cgi?article=1941&context=faculty_scholarship - and as for history, the revolution was in 1937: https://cdn.mises.org/Peoples%20Pottage_2.pdf

LiberTarHeel's avatar

I've come to the conclusion that Ag is superior to Au for typical trade, but that Pb is far superior to either both for trade and for other far more important important exchanges.

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