https://archive.freecapitalists.org:443/blogs/williamwcurlee/default.aspxenCommunityServer 2008.5 SP2 (Build: 40407.4157)https://archive.freecapitalists.org:443/blogs/williamwcurlee/archive/2010/04/29/another-case-for-monetary-competition.aspx#328643Thu, 29 Apr 2010 20:00:27 GMT944abf2b-d1be-4bf2-990d-438cb0e377e9:328643Texas Rex<p>I like your analogy of currency as biomass. It seems to me that the governments of the world are not engaged in responsible management of currency, but rather who can be the least irresponsible. Each currency that I am aware of, is not backed by any kind of asset, such as gold or silver. &nbsp;They are backed through monetized debt; with the promise to be paid through the advancement or production of its economy.</p> <p>Do you know of any currency that is asset-backed? Has Mises.Org ever thought about trying a social experiment with barter currency backed by silver or some other precious metal?</p> <div style="clear:both;"></div><img src="https://archive.freecapitalists.org:443/aggbug.aspx?PostID=328643" width="1" height="1">