A commodity currency is a currency that moves in a correlated step with the global price of primary commodities due to certain countries’ dependency on the export of raw materials for income.
The commodities include minerals like gold, copper, iron, coal, energy products such as oil and gas, precious metals, produced products like milk, etc.
The commodities include minerals like gold, copper, iron, coal, energy products such as oil and gas, precious metals, produced products like milk, etc.
Ben: "I wish we never went off the gold standard, we should've kept the dollar as a commodity currency."
Bob: "Hurr durr, a private institute managed by unelected people manipulating the economy through the use of fiat money is a great thing!!!"
(Bob is referring the the central bank of America.)
Bob: "Hurr durr, a private institute managed by unelected people manipulating the economy through the use of fiat money is a great thing!!!"
(Bob is referring the the central bank of America.)
by Minarchistic August 17, 2021
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