How much does one troy ounce of gold weight? And how does the bullion of this precious metal weighing one gram look like? Have plunged in your thought? And did this for nothing… The answer is simple: just several bytes. When in 1996 the designers of E-gold, legendary electronic payment system, have presented the world a new embodiment of banknotes, a number of businessmen, whose business was related to financial flows have completely forgotten about currencies, cross-rates, Forex and inflationary expectations. E-gold payment system has offered an alternative to modern money, and this overturned the world history of monetary systems development and funds flow.
Well forgotten past
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...
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