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The US has been pretty successful since the 70s. I might not remain preeminent but the its certainly had a long period off success.


Your question is either/or but economies work in cycles. the answer is "yes" to the first part and probably 'yes' to the second part. At some point in the future the dollar might well be backed by something more tangible.

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The US has been pretty successful since the 70s. I might not remain preeminent but the its certainly had a long period off success.


Your question is either/or but economies work in cycles. the answer is "yes" to the first part and probably 'yes' to the second part. At some point in the future the dollar might well be backed by something more tangible.

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https://www.eastdulwichforum.co.uk/topic/8751-fiat-economy/#findComment-266750
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any central bank will nowadays actively hedge its currency against a basket/ baskets of currencies - the individual currencies themselves may refer, to a greater or lesser extent, on a nominal or implied gold reference valuation


GB did indeed sell Gold, but remember at that time, Gold was an expensive asset to hold - producing little real return with its low lease rates and phenomenal storage costs. A move to a market based curreny stockpile was more indicitative and responsive to pressures and variables in the market


adopting a gold standard is dated and potentially risky - the web of derivatives that are used by corporates and governments make any valuation of a physical somewhat opaque


so yes. and no. and yes. and no.


bottom line, you cannot make a family meal of gold any more than you can from a wad of Euros


innit


bludz

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