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You can also use gold, a basket of commodities, or a mixed basket of commodities and currencies.
by gasull 17y ago
You can also use gold, a basket of commodities, or a mixed basket of commodities and currencies.
- sho 17y agoHm, I don't think gold is a very good option. It's not evenly distributed, for one - why should Australia be able to dig up gold but Japan cannot? And the resources put into mining something for its arbitrary value would be better used elsewhere. And let's not even mention technological development - nanotech could turn the whole idea gold has any special value at all on its head. It's fine for personal use but I think the time has long passed where we should be basing whole international currency systems on supplies of an arbitrary metal, or any other physical commodity. There's nothing gold can do that, say, cryptographically signed certificates cannot. The security council, or similar, could sign the certs. Or just use SDRs or similar, which are only one step removed anyway.