A
Anonymous
hurleyjd":1dnrf1tn said:zirlottkim":1dnrf1tn said:https://youtu.be/ZkyBnaYCUhw Inflation is a result of increasing the supply of currency ,especially when the increase of supply is not backed by anything.
What should we back it with.
Could be almost anything. Historically Gold & Silver has been but could add oil, a group of commodities, land. Possibilities are limitless. Anything that could retain its value and was widely recognized as being of value. Right now, most countries do as we do and have fiat paper based on nothing. Adding Digits/Printing paper doesnt make anyone richer. It only causes inflation. The U.S. Dollar has been considered the worlds reserve currency since the early 1900s. The turmoil in Europe back then made storing Gold reserves safer in the U.S. vs their own nation. Since most European countries had gold stored here and we had a strong currency, military and economy it made sense to use the U.S. Dollar for trading world wide. Its all documented history. But there are acts in motion over seas that may change the Dollar world reserve status soon. China, Russia, Saudi Arabia and others have been working on trade deals to eliminate worldwide trading with the U.S. dollar. Also many countries are repatriating their gold and storing in their own country again.