Mises Daily
Author:
Patrick Barron
Online Publish Date:
of the US economy) reasons. But now those reasons are evaporating, creating an opening for some other, better currency. Is There Any Better Reserve Currency? The at the promised price. Therefore, an issuer of a gold backed currency needs to open its books to periodic and random independent audits. But even independent audits holders of the currency could be denied redemption there, although they might have access to partial redemption of gold held at remote locations. However, a private