Over the past 100 years the global money supply has increased dramatically, leading to rising prices, ordinary people forced into heavy borrowing and government debt spiraling out of control – US national debt, for example, currently stands at more than US$17.5 trillion (as of 30/04/14). In response to this, some people have been calling for a return to the gold standard, a monetary system where the value of national currencies is directly linked to gold. This is different to the fiat money system currently in use the world over, where the value of national currencies is determined by governments. Other people, however, are suggesting that the cyrptocurrency Bitcoin could be the answer, with many asking if it’s the “new gold standard”.
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