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Would each country need, by the law of physics, to base the value of their currency on their respective Gold Reserves?
If each country tried to establish its own fiat currency (fee-ott-see) , like a bunch of little Federal Reserves, what would be the common denominator for the exchange of one to another?
Base currency - Usually the currency of the home market in which a trader or investor is buying or selling. Currency Terms and Definitions
If the dollar turns to trash, it will just take us a whole more of them to buy anything. The media has been talking about hyperinflation and the devaluation of the dollar. They talk about Zimbabwe and what happened there.
Interesting reading at Hyperinflation in Zimbabwe - Wikipedia, the free encyclopedia
Quote:
Zimbabwe's central bank has announced that three zeros will be taken off every banknote to help consumers deal with inflation of almost 1,200%. ...
Economists said the removal of zeroes in itself did not amount to a revaluation, but was simply aimed at making it easier for people handling increasingly unwieldy wads of banknotes as inflation soars. BBC NEWS | Africa | Zimbabwe money loses three zeros
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