Iraqi Dinar Discussion Board

[waggett]

At what rate? If they backed it at .01 cents per dinar then that's what it would be worth. The catch is you have to have the precious metal in reserve in order to do it, that's the main reason why countries using the gold and silver standards abandoned them back in the early 20th century. I think it also tends to make the currency so valuable that no one wants to trade with you.