Tag Archives: goldbacked

US congressman proposes gold-backed dollar, but does America have enough bullion?

Republican Congressman from West Virginia Alex Mooney has proposed a bill “to define the dollar as a fixed weight of gold.” The problem is that the US may not have enough physical gold to back the greenback, an expert tells RT. In bill number 5404, dated March 22, Mooney criticizes US monetary policy, citing the fall in the dollar’s purchasing ...

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Gold-backed cryptocurrency aims to entice investors back to precious metals

Australia’s biggest precious metal refinery, Perth Mint, is developing its own cryptocurrency backed by physical commodities like gold. It expects to bring investors back to the traditional market of precious metals. According to CEO Richard Hayes, the mint wants to provide a transparent offering that would allow investors to buy and sell with confidence, knowing that what they are buying ...

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Maduro urges Latin American states to join oil & gold-backed cryptocurrency project

Venezuela’s leader Nicolas Maduro has invited members of the regional ALBA-TCP bloc to join him in launching a new cryptocurrency. Named petro, the cryptocurrency will be backed by the country’s oil, gas, gold and diamond riches. “I have a proposal for the economic teams of the ALBA: to assume jointly the creation of an oil-backed petro cryptocurrency, which will be ...

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