Thursday, December 15, 2011

Can you back a currency with something other than gold or silver?

Would a currency that had a different form of collateral be as viable as one for which the only backing for the currency is gold or silver? Has this ever been done before?





Could you back a currency with diamonds, for example?|||Yes it could be backed by Diamonds, or for that matter it could be backed by herds or sheep,


Just as long as its backed by something that is REAL.





Right now the Federal Reserve is printing "money" with NO backing at all.... NOT A GOOD IDEA!

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