US congressman submits bill for return to gold standard
(www.moneymetals.com)
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You use a gold, silver,maybe copper, and other commodities backed dollar. We know the geological, mineral, lumber, etc available in USA. It'll work fine. Don't listen to the Fed telling you it wouldn't work.
I'm not listening to the fed about anything.
Too many people here are ignorant of the problems that occurred in the 60's that depleted the US gold supply and forced Nixon to take the US off of the gold standard in 1972. This has nothing to do with the fed.
Right now we have a fiat currency that is loosely backed by oil instead of precious metals. Going back to a currency backed by precious metals that is again used as a world reserve currency would run into the same problems as the 60's.
The problem is not a hard currency backed by precious metals. The problem is trying to use it as a world-wide reserve currency. Eliminate its use as a reserve currency, and a gold-backed US dollar would be fine.
USA has squandered any good will left with it's greed and manipulation. I don't think there will be a US reserve currency when this is finished.