You would need to back up the currency with commodities that have 1) minuscule storage costs and 2) a very high stocks to flow ratio. Also, all commodities used must have identical stocks to flow ratio, or the pricing between the commodities will be very unstable. As a result, using a single commodity is ideal.
As luck has it, such a currency exists. Simply log into your brokerage account and buy the GLD ETF. It's only been around for four years, it will be very interesting to see how it does versus the dollar in the long term. If I was a Fed chairman, I would be worried.
As luck has it, such a currency exists. Simply log into your brokerage account and buy the GLD ETF. It's only been around for four years, it will be very interesting to see how it does versus the dollar in the long term. If I was a Fed chairman, I would be worried.