What is Sound Money? Monetary reset
Gesara.news » News » What is Sound Money? Monetary resetNews Date: August 16, 2020
A somewhat polemical term for a currency backed by a tangible commodity such as gold, silver or platinum. Sound money has an intrinsic value, but is more susceptible to deflation than fiat money. Many countries used sound money throughout most of their histories; however, most countries today use fiat money and have since the United States left the Bretton Woods System in the 1970s. The term "sound money" is often used by those who favor its reintroduction. The more common term is hard money.
Given the current fiat money system is on a path towards its own destruction it is not surprising that there has been increasing talk of a monetary reset.
Official website: yemfoundation.org/faq
Gold-backed cryptocurrency is a type of crypto stablecoin where each token is backed with physical gold. With the token price pegged to the gold price, there is less price volatility compared to Bitcoin or other altcoins.
A guide to gold-backed cryptocurrency:
Also, Beijing announces a digital currency backed by gold:
In January, Russian Foreign Minister Sergey Lavrov explained that Moscow is continuing "its policy aimed at gradual de-dollarization" and is looking to make deals in local currencies, where possible.
Lavrov called the rejection of the greenback "an objective response to the unpredictability of US economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency."
The second executive order today protects Americans from eviction.
The third executive order provides for the continuation of expanded unemployment benefits.
The fourth directive today extends relief to student loan borrowers through the end of the year.
President Trump also signed two important bills for our veterans-expanding eligibility for veterans with blindness and requiring the VA to establish a treatment court program.
Bitcoin, Litecoin, Bitcoin Cash and Ethereum showed a bigger reaction in terms of price-performance to regulatory news.