By Editor | Aug 5, 2011 | US | 2 |
Those who rely upon the paper back are affraid of gold becoming the real money.A gold standard is the reliable most one, because of the peculiar electronic configuration the metal enjoys. This quality makes it the most desirable industrial comodity in the industrial world of today because it is a near idel conductor. Even more the people who never knew of this quality of gold ,say, a hundred thousand years ago revered it as the most precious of the metals to keep their fortunes and to trade.
Fiat Currency with a well-regulated central bank will beat gold any day of the week. To think otherwise is insanity as any major source of new sources of ore could wipe out trillions per year if you base your economy on a single metal. Even a basket of metals as a backing would be highly volatile.