Sorry to burst your bubble, but the chance we go back to a metal-backing of currency is basically zero. Even when we had the gold standard it was completely fake, with less than 5% of the currency in circulation actually backed by metal in reserve.
Yes, the financial system is likely going to collapse. Yes, we will turn to asset-backed currencies for stability (backed by energy and other commodities like agricultural staples, commercial metals, timber, etc), but we absolutely aren't going back to a gold-backed currency.
edit: the downvotes are remarkable. The gold standard was completely, 100% fake even back in the early 1900s. We are returning to asset-backed currencies, but a currency backed by only gold isn't stable and will not be the world's currency. Sorry.
I don't think we will use PM coinage again, but I think after the collapse, the new currency will be backed by commodities, which will include gold. Either way, I beleve that gold and silver will increase greatly in value.
Sorry to burst your bubble, but the chance we go back to a metal-backing of currency is basically zero. Even when we had the gold standard it was completely fake, with less than 5% of the currency in circulation actually backed by metal in reserve.
Yes, the financial system is likely going to collapse. Yes, we will turn to asset-backed currencies for stability (backed by energy and other commodities like agricultural staples, commercial metals, timber, etc), but we absolutely aren't going back to a gold-backed currency.
edit: the downvotes are remarkable. The gold standard was completely, 100% fake even back in the early 1900s. We are returning to asset-backed currencies, but a currency backed by only gold isn't stable and will not be the world's currency. Sorry.
I don't think we will use PM coinage again, but I think after the collapse, the new currency will be backed by commodities, which will include gold. Either way, I beleve that gold and silver will increase greatly in value.
yes, backed by a basket of commodities is absolutely what will happen.
https://www.youtube.com/watch?v=hn7aWuerBB8