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RE: Gold Backed Cryptocurrency? Introducing Karatpay (giveaway & competition)
When the dollar goes down,gold actually goes up, other than that you practically NAILED it. thanks for participating. :) EDIT: also gold & silver was issued by governments in the past as a form of finite money before Fiat ever existed. i.e before the printing press.
you are welcome.. but lets make it clear.. Dollar's value is determined by gold and other currencies value are determined by dollar.. Gold=dollars= other currencies.. Buying and selling dollar, strength of its economy etc are other topics. dollar has an international power that is why its value is determined by gold and other topics.. We invest on gold so we are following every single detail :) Last year 3 billions dollars were paid for gold in Turkey :)) If you are looking for a bride/groom dont get marry before you visit Turkey lol
in my country the dollar was once backed by gold. but in the 1970's Richard Nixon removed the gold standard sending a shockwave of fiscal irresponsibility to the global financial sector. Which is why Karatpay CASHGOLD exists. I definitely want to visit Europe and tour hostels around the world, and won't hesitate to stop by Turkey. :)