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However, these systems rely heavily on trust—trust in institutions like banks, credit card companies, and governments. And that trust has been repeatedly breached. Banks can freeze accounts, governments can print unlimited currency, leading to inflation (a Big Mac costing $9), and credit systems can reverse transactions without notice. Consequently, these backdoors have eroded trust just when we need it most.
The Limitations of Traditional Money and the Gold Fix
Gold, often dubbed the most "trustworthy" money, appeared to be a solution because it couldn't be printed at will. You’d need to physically mine it, and faking gold is much harder than counterfeit currency. Gold's storied history—from pharaohs to pirates—cements its status as a symbol of value.