Originally Posted by
alloy2
A lot of water has passed under the bridge since 2011, twelve years worth, the shores have been eroded. BRICS is coming within our lifetime.
It seems unlikely. There isn't enough physical gold available to back an international reserve currency that could meet the needs of an expanding global economy. You need an inflatable fiat currency for that task.
The problem with a gold backed currency is that inevitably .... too much of the available wealth pool inevitably becomes concentrated in the hands of the ultra wealthy. There's not enough money circulating in the free market and economic activity stalls out. It happened to us here in the states with the onset of the Great Depression in the 1930's. That's the most probable reason for why it was necessary for the USD to begin going off the gold standard.
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