Yaman Toruner

Yaman Toruner

Why Gold-Backed Banknotes Could Strengthen Developing Economies

A dual-currency model with gold-backed banknotes could help developing nations boost stability, reduce dollar reliance, and strengthen financial sovereignty Before President Franklin D. Roosevelt’s April 5, 1933, recall of gold-backed currency, the U.S. Treasury had been circulating gold Certificates since 1865. These notes were backed by equal gold coin and redeemable upon demand. When the…

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