Friday, June 24, 2022 10:20:16 AM
AABBG future is golden!
“Gold-Backed Cryptocurrency
My friends Jim Rickards has also suggested that with the invention of the blockchain and high-level encryption, a gold-backed cryptocurrency could eventually become a reality. Jim is not a fan of Bitcoin per se, but does believe in the Blockchain, saying he has been working with it long before cryptocurrencies entered their manic boom.
Jim Rickards claims that since China and Russia are making geopolitical and financially savvy moves to bypass the US dollar, their new gold-based trading systems would be only a “small step” away from a decentralized ledger system for a gold-based currency.
Under this system, Jim claims that the dollar – and Bitcoin – would be the big losers, saying gold is relevant as ever when you consider that many of the world’s developing countries are actually stockpiling gold.”
https://nomadcapitalist.com/finance/gold-backed-currency/
"Be fearful when others are greedy, and greedy when others are fearful."
_Warren Buffett
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