[kimchi]

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Back to business. Borodog, any idea how much gold would be required to hold if they were to revert back to the last used rate taking inflation into account? Like how many tons that would require? Is there enough gold on earth?


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Not as much as you think since if this were to happen the price of gold would probably become insanely high.

I think a more plausable address of the fiat currency problem would be for people to hold gold on deposit and use a bank card (gold card?) to make a purchase in 'gold grammes' instead of fiat currency. Most countries have made their own bank's printed money legal tender however, so this might just be an option if both trading parties were to agree on gold grammes as suitable for payment. A steady increase in the use of this method might eventually replace the use of the current batch of fiat currencies.

Some companies such as GoldMoney are already working on this, and it would obviously be easier (and cheaper) settle payments overseas.

Gold will become the new global currency of the NWO [img]/images/graemlins/smile.gif[/img]