RE: Money Bots7 Feb 2022 23:15
Digital means of exchange will come, it is inevitable for all the benefits it brings like transparency, traceability, immediacy and, one day, uniformity. To 100% base it on a limited and valued resource, like gold (you could even have a silver one, for trade) would also make sense, as in the amount of currency in 'circulation' is interdependent on the amount of that resource and obviously the supply of that money can and will only increase as the resource stocks grow. Can't see it being the only means of exchange soon, or even for a long time, but its value would always be pegged, known and most importantly therefore would be a step away from the Fed and the banks being in control.
One can see why the BRICs countries have been buying up bullion lately, accompanied - as Paddy will surely be aware of and have given his nod of approval to - the Emerald Isle.
Russia and China have become capitalist-centric economies so quickly, whilst remaining totalitarian regimes; this is a potent force. And they can the shady practices that may have got them where they are, wearing the cloak of respectability, as they seek global dominance, at least economically to start with.
Having a real world digital currency, 100% linked to the value and supply of gold means trading with them and paying for it has to be in a form, if it is not their digital currency, of a commodity that is of equivalent value in terms of exchange value on the day - like diamonds, nickel, copper and barrels of oil, as examples. Paper money, promissory notes won't cut it...gold stocks will rightly become more valued all IMHO
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