What situations could lead to gold & silver being used to buy things?
Let me elaborate my question a bit more here.
I’m curious if there are any situations where society (state, national, global etc.,) would return to using gold & silver in daily transactions rather than cash & credit cards like we do today?
For most of human history people have bought things with silver and gold and sold things for silver and gold but only very recently has the world stopped using them as currency.
I’ve seen these “goldback” notes (this one is 1/20 troy oz) being sold by places like JM Bullion & APMEX and it seems like they would be great if society reverted back to gold & silver.
Although they would need to be priced way cheaper since right now you’d end up paying $4,000/oz to do it that way.
Do you think we’ll ever return to gold & silver as money?