Texas moves to create gold-backed digital currency
(www.kitco.com)
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What fresh retardation is this? This is unconstitutional, and even if it wasn't, why not a gold back physical currency as opposed to a digital one?
This is a cynical and underhanded attempt to get rid of physical currency by dangling the word 'gold' in front of it.
If it is backed by something physical, then it is good enough to have the currency be physical as well.
At this point, I'd be onboard with issuing coinage that is some quantity / percentage of gold or silver as currency.