Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's catch-22
by
flug
on 16/06/2011, 16:54:54 UTC
And if someone print paper money or creat digital currency backed up by gold, there MUST be a central bank in that system. It cannot be guranteed that the "Back up" promise will ever be kept.  You know, Uncle Sam break his words in 1971.

+1

If the currency is centrally controlled, they can ditch the gold standard anytime they want to fund another war, like they always do.