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Saudi Arabia not renewing Petrodollar agreement…..
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<blockquote data-quote="catstalking" data-source="post: 5924105" data-attributes="member: 50268"><p>well there's copper too, but that's kind of my point: it's useless as a backing because of fractional reserve banking, it's useless as specie because as you admit there isn't enough, so it's done, useless, out of date</p><p></p><p>TO BE FAIR, I think physical gold and silver existing alongside Bitcoin would make lots of people happy</p><p></p><p></p><p>it was both until 1933, we'd been on a gold standard for awhile</p></blockquote><p></p>
[QUOTE="catstalking, post: 5924105, member: 50268"] well there's copper too, but that's kind of my point: it's useless as a backing because of fractional reserve banking, it's useless as specie because as you admit there isn't enough, so it's done, useless, out of date TO BE FAIR, I think physical gold and silver existing alongside Bitcoin would make lots of people happy it was both until 1933, we'd been on a gold standard for awhile [/QUOTE]
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