Money backed by gold?

Does money needs to be backed with gold?

All gold is owned by the money printers. So why would we let these criminals get away with their crime and let them have the upper-hand by any system that is based on gold.

There is also no proof that it is necessary to back money with anything. Money functioned for centuries without being actually backed by gold. While people were told that money was backed by gold, at the first instance where France asked the US to provide gold instead of dollars, the dollar was quickly removed from “the gold standard”. This means there was no proof of money being properly backed by gold at any moment. And after the gold-standard was removed, money also kept functioning “normal”.

This proves sufficiently that it is not necessary to back money with gold at all.

Still Have Questions?

The 1CoinH / Ethical Money system is nothing like we have ever seen before. We can imagine you have plenty of questions left.

Please don’t hesitate to ask us. It also helps us to understand what we haven’t explained well enough.