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If they own lots of gold, they could back a currency with some kind of gold and silver backing. I'm not saying this will happen, however can you imagine if one of the currencies would be backed by gold? I would think people would flock to that currency. Maybe the whole plan is to create a gold backed cryptocurrency and have us become a cashless society. In a cashless society they would take back control.

I think governments will do all they can to avoid issuing a metal-backed currency. They don't like it because it limits their power. Fiat currency allows politicians to promise free stuff to the people without having to pay for it. With fiat currency, they can pay for the "free stuff" by issuing more currency.

With that said, if a country backed their currency with gold, I think people would flock to it.