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<p>[QUOTE=&quot;Daggarjon, post: 81643, member: 4230&quot;]i found &#039;hour&#039; based currency while doing a little research on the Liberty Dollars. I find the idea interesting, but doubt its long term viability since the only backing it has is whats written by a &#039;business&#039;. Sure they &#039;say&#039; 1 Liberty Dollar (LD) is backed by 1/10th an ounce of silver, so $10(LDs) equal a 1 ounce silver coin. Example - the printers of the LD over the years have 1 billion LDs in circulation. The price of silver shoots up to $50 an ounce again for some unscroupulous reason. Everyone who owns the LDs rush to cash them in for the 1 ounce silver coin. </p><p><br /></p><p>In that scenario, there is NO governing authority that can provide assurance that the backing will hold. So in the end - its potential to be &#039;fiat&#039; money, as is FRN&#039;s, is very high.[/QUOTE]</p><p><br /></p>

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