Gold Currency

Gold Currency

Gold Currency

Can a gold backed currency be developed?   The general idea, is a country or countries that hold a large stake in gold could introduce a gold currency.  China and Russia holdings can  introduce a gold currency; while maintaining stability. China and Russia are large buyers of gold.

Digital Gold Currency

(DGC) Digital Gold Currency a form of electronic money backed by gold.   The digital currency is exchangeable into gold on demand.   DGCs backed by gold through allocated or unallocated gold storage.

Gold Backed by Bitcoin or BitCoin backed by gold?

There are many investors interested in gold backed by the blockchain.  In 2016, the Royal Mint announced a product to trade physical gold digitally.  The trading platform sits on the blockchain.

gold currency backed by bitcoin, Gold Currency

Articles on  Gold Currency

Articles on  Gold Currency

Is Russia Planning a Gold-Based Currency?  “The announcement, in sharp contrast to that institution’s more taciturn traditions, underscores Moscow’s outspoken dismay with dollar hegemony; its timing suggests coordination with the top rungs of government to present gold as a possible currency-war weapon. Read More   February 6, 2015  http://mises.org

 Why Gold Came to Be a Currency- “First, its composition must be easy to define. It should also be relatively immutable, but not so inert that it cannot be purified into the form that is acceptable as an asset. It should be rare but not so rare that it is impossible to find. Read More  Sanat K. Kumar, who spoke to “Planet Money” about gold in February, is chairman of the Department of Chemical Engineering at Columbia University. August 3, 2011 http://www.nytimes.com

Only One Currency Is Still Backed By Gold- Future historians will probably also be dumbfounded when they see how long people allowed worthless, unbacked fiat paper to pass as money.  It’s extraordinary that most people today happily accept a digital abstraction of paper currency controlled by a single individual as ‘valuable’.  Read More  Simon Black, Sovereign Man  Mar. 29, 2012, http://www.businessinsider.com

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