[kinser]You're nuking the gold standard, or any other metalic standard--silver or both would work just as well. One can either exchange their paper for gold or they cannot. That is how silver and gold certificates worked
[Mike]Exactly what are you saying? Are you saying that a citizen who had a $10 silver certificate could walk into his local bank and obtain ten silver dollars for his his certificate?
[Mike]Exactly what are you saying? Are you saying that a citizen who had a $10 silver certificate could walk into his local bank and obtain ten silver dollars for his his certificate?