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Gainsville florida newspaper Once in 1944 at UN currency and finance conference the world community has approved the monetary system where function of world money was reserved for gold by the extent showing how it continued to be means of final settlements between the countries. In other words, the economists have agreed that any monetary unit in the world should be backed with gold. But 1976 has finished an epoch of the money backed with gold, and has declared special drawing rights in International Monetary Fund (IMF) – SDR as world money. So, SDR became an international accounting unit with US Dollar kept as the important currency. jockstraps for young boys

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Wainscotting ideas And if at world economy level such system suited everybody, the genetic memory of each person periodically prompted him that the paper banknotes laying in his purse and digital record on his plastic card should be basically backed with something valuable and material. As the result in 1996 the founders of E-gold company Douglas Jackson and Barry Dony opened a new stage of a gold monetization history. The idea was extremely simple - people will believe in electronic money and will use them much more willingly if the money is provided with gold. The funds receipting on account of E-gold system converted in this metal by default. But while diversifying its services, the payment system also provides an opportunity to back money on the account by other precious metals, such as silver, platinum and a palladium.

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