it would be bad for everyone, worldwide, except those responsible for doing so and a few investors perhaps..
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you don't know you're wearing a leash if you sit by the peg all day.. -
Chances are they will go to the first currency that goes back to the gold standard. It's the only true way to prevent a government from devaluing the dollar. Chance are it will be the pound, but only if the Brits get their act together.SEO Strategy - Digital Strategy - Cannabis Lead Generation
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At the moment in its infant ways it's showing to be very durable. Major exchange hacked, user db leaked, exchange down for a week; every one thought it will be major crash and sell-off. In reality it took small dip and once exchange opened again it is now back on track.
Earlier it gains wider adaption, better it will be as another alternative and vehicle for trade. If something big to happen metals would be more difficult to trade with on day to day basis especially in large distances; metals are expensive to transport and store. bitcoin is secure and efficient transit network for any amount of value. it is digital gold standard (newly born).
Surely going back to having currency backed by gold seems nice. But how it is realistically achievable on global level? You know damn well if gold won't be injected in the currency itself but only virtually represent some gold value - history will repeat itself again and we will end up in the same situation we were and are now at in the future.Last edited by Serge Litehead; 06-28-2011, 06:24 AM.Comment
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nothing is backed by nothing... what is gold backed with? - faith that you can sell it tomorrow at least for the same value you bought it yesterday, nothing more.Comment
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I think it'd be a bad thing for everyone, honestly.Giggles.com has a huge selection of sex toys. Need backlinks? Ask to guest post on our adult blog.Comment
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Gold is solid value storing container so to say, proven historically therefor you have this inherent value attached to it. Faith in gold is backed historically and that is true. But faith is not constant. IF something comes that is cheaper to store, transit and utilize than gold as a value container and more secure, faith and therefore price of gold will go down. In that case it will still have utility in other industries but not in financial sector - wouldn't you agree?
In the past rocks were used as money, now bank vaults don't store rocks. Why? something more efficient like gold has replaced rocks, same thing can and will happen to gold. you can't send 1 oz of gold in payment through fiber-optic channels without added huge costs and delays in time to get from point A to point B.Last edited by Serge Litehead; 06-28-2011, 07:25 AM.Comment
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