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Isn't the notion of a gold backed currency considered antiquated now? My understanding is that both the US dollar and Euro are fiat currencies as well, the US d
by squidsoup 14y ago
Isn't the notion of a gold backed currency considered antiquated now? My understanding is that both the US dollar and Euro are fiat currencies as well, the US dollar having abandoned the gold standard in the 70s (http://en.wikipedia.org/wiki/Nixon_Shock http://en.wikipedia.org/wiki/Nixon_Shock).
- bitcartel 14y agoThis week's edition of Forbes: http://www.forbes.com/sites/steveforbes/2012/10/03/gold-can-save-us-from-disaster/ http://www.forbes.com/sites/steveforbes/2012/10/03/gold-can-...
- saraid216 14y agoReturning or going to a gold standard is a very regular recommendation by assorted persons. My personal perspective is that it's intuitive, but suspicious, and I'm not willing to invest the momentous amount of time and effort it would take to feel confident in taking one side or the other. (Other people need a smaller investment to feel confident.)