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Are any world currency's backed by gold

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posted on Jan, 14 2009 @ 03:41 PM
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posted on Jan, 14 2009 @ 03:41 PM
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posted on Jan, 14 2009 @ 03:54 PM
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Gold coins are still legal tender in the UK but the currency as such is not backed by gold. I had heard the Euro was part backed by silver but I cannot verify this.



posted on Jan, 20 2009 @ 12:40 AM
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According to the argument put forward that Gold has no inherent value, coming down to just human preference and conditioning, you can use that argument against human life or even planet earth.
Human life has no value (your friends, family, pet dogs etc) unless humans give it value. planet earth has no value and this universe has no value, why does anybody bother living or eating or drinking water or try to find partners for making kids? Food has no value and water has no value unless humans give it value. Obviously people will value clean water, clean air, good food, nature, planet earth, universe because they are inherently necessary for a healthy creative and positive human life.

so so long as humans dont all suddenly decide to have a death wish, and total disregard for human life, we will inherently value everything necessary for life and living a good life.

and what is wrong with beautiful shiny metal that never deteriorates?
it can become rings, bracelets, used in electrical appliances etc.etc.
beauty and advance in technology is a necessary part of living a good life.
if you go to space, you have a much better experience if you are able to reflect and sheild against suns rays using gold on the helmets. and that is the intrinsic value of gold.

paper money, you can use to make paper airplanes, roll up to snort coc aine, burn for warmth or use as toilet paper that will block your toilets... so paper money does have intrinsic value but not as much as gold -

unless ofcourse a super Alien race visit us and decide that the dollar note is the most beautiful thing in the universe.



posted on Jan, 22 2009 @ 01:13 PM
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reply to post by ajh91
 



posted on Jan, 26 2009 @ 11:52 PM
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reply to post by ArbitraryGuy
 

Yes, but the problem with paper money is that a few people in a privatized so called "federal bank" can print it to their liking. Gold is a near solid currency that only rarely swings in value. Paper money or "fiat currency" is like a musical dance with chairs. When the music stops someone is left to "stand" or in other words go bankrupt. It is not a flaw in the system it is a PART of the system. only by that tactic and the perpetuate increase of their own money supply wich only works because of timelaps between the inflation and the.. inflation, can the system stand.. for a time. It is by natural law doomed!
You see by these rules, the money the government borrows, is only worth its actual value for a short time. because after some time in cirkulation, the masses are aware of the extra money and therefore prices raise in society. Before your sallery does.



posted on Jan, 29 2009 @ 12:52 PM
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reply to post by rougevif
 


mistakenidentity
Let me see...ummm...could it be the Federal Reserve....bankers..
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posted on Feb, 3 2009 @ 05:58 PM
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Every poster before me is wrong. I am always right.

All of today's currencies are backed by gold or silver including the U.S. dollar and euro. They are backed by other junk like loans too, that's where the inflation comes from. But gold prevents it from going to zero.



posted on Feb, 8 2009 @ 03:53 PM
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The biggest advantage to gold is that the federal reserve cannot create it at will. Even if the value is "psychological" the amount in existence cannot be tampered with by governments or national banks.



posted on Feb, 13 2009 @ 08:16 PM
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reply to post by ArbitraryGuy
 

I completely disagree. Gold is a Metal in which blood, sweat and tears is sacrificed for it's timeless beauty and infinite industrial uses. It can be shaped, pounded paper thin, extruded as fine as a hair, and carries electrical properties that few metals do.
It's foolish to believe gold isn't as an important component in the modern world and therefor is as valuable as any other commodity.
And because of it's ability to keep it's form and luster for thousands of years, it's a far more dear metal to our cultures than steel and aluminum.
How do you think it became an agreed upon medium for trade in the first place?



posted on Mar, 1 2009 @ 01:56 PM
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posted on Mar, 6 2009 @ 11:51 PM
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I'm pretty sure Malaysia has one, let me look it up. Here you go:

en.wikipedia.org...



posted on Sep, 8 2009 @ 10:44 AM
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I hope the OP found a few countries with gold backing currency.
I saw no impressive list.
I figured he would go to that country and cash in taking the gold
with him or just staying there.

I got a few gold and metal stories but I was looking for another thread.
So until next time.



posted on Jun, 10 2011 @ 04:16 PM
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Gaddafi had declined help from IMF and turned Libya's currency into a gold backed currency. This is the real reason Al-CIAeada started the uprising in Libya.



posted on Jun, 10 2011 @ 08:13 PM
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Just discovered this thread so a star for the OP , I have read the Chinese are buying up Gold and have great reserves.
Makeof that what you will.
But rumour has it the Chinese yen is about to replace the US dollar in the world currency satkes.
Gold has gone up 300% in value since approx 1981 I believe.
So if one bought Gold each week instead of putting cash into the bank I believe one would come out way in front in another 30 years espescially if one didn't sell any of it.



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