Precious Metal-Backed Crypto Introduced

By Richard Giedroyc

Perhaps not all is lost. Fiat money appears to rule the financial world until it doesn’t. Not only is unbacked currency used daily as money, but there are now cryptocurrencies, which are not only unbacked, but they are not a currency, nor do they go through any central clearing site or bank to ensure their stability. If fiat money is viable, why do central banks all over the world continue to not only hoard but actively be buying gold? Why, in times of financial distress, do even everyday consumers look to gold or silver as has been done for thousands of years? Precious metal money is tangible. Fiat money and cryptocurrencies are not. Texas is looking to change all this. The state legislature recently introduced House Bill 1049 and House…

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Numismatic News (Digital) - 1 Issue, January 14, 2025

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