Russia and China Gold backed Currencies - Possible?
Having a discussion with neighbors about the gold standard and specifically about Russia and China being able to back up their currency with gold.
Can either or both back their currency with Gold today?
If it is possible is it probable; what are the advantages/disadvantages?
I can't find anything on this subject that is less than 2 or 3 years old.
Final question - how valid are the claims the US has on its holdings?