The yellow brick road (Gold only standard) leads to the green castle (Fiat) with the supposed wizard man pulling levers behind a curtain (central bankers).
The bi-metallic standard enshrined in the constitution allows the metals to inflate and deflate against each other, and replace bank reserves vs federal reserve notes which is why they fought so hard to demonetize silver in the 1800s and got big mad when JFK did it in the 60s
I don't think lugging around precious metals is in the cards, but some combo of a blockchain/paper representation of provable/verifiable/auditable backing by gold/silver/and other commodities potentially, will be what comes after the fed now CBDC fails
You may know this but adding a little color here:
The yellow brick road (Gold only standard) leads to the green castle (Fiat) with the supposed wizard man pulling levers behind a curtain (central bankers).
The bi-metallic standard enshrined in the constitution allows the metals to inflate and deflate against each other, and replace bank reserves vs federal reserve notes which is why they fought so hard to demonetize silver in the 1800s and got big mad when JFK did it in the 60s
I don't think lugging around precious metals is in the cards, but some combo of a blockchain/paper representation of provable/verifiable/auditable backing by gold/silver/and other commodities potentially, will be what comes after the fed now CBDC fails
I was aware of most if that, but you wrote that well!