Home › Forums › Other › OT: Countdown: Three Weeks to Chaos › kev374 wrote:esmith
[quote=kev374][quote=esmith]Answer this: if the currency is backed by precious metals, what backs PMs?
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nothing needs to back it since PMs are finite..you can’t just generate it from thin air.[/quote]
Until someone makes a big Silver or Gold Strike or a new industrial process for extraction pops up.
The late 19th century battle over currency was driven by the silver strikes of the west
