Both Steve Forbes and Ted Cruz specifically said we need to stop having a fiat-based currency and start a transition to an asset-based currency. I would not be surprised that Trump thinks the same way, too.
Trump has made a few statements in that direction.
So the US government owns ~640MM acres of land and ~700MM acres of subsurface mineral rights. In addition there are water rights, logging rights, fishing rights, access rights, etc.
See: https://www.fas.org/sgp/crs/misc/R42346.pdf
Is there any reason that we couldn’t base our currency off of $/type of acerage and access rights?
We spent ~$4T in 2015 and $4.1T in 2016. Using just the 640MM acres and say $5T as a base to start with that’s $7812/acre - so make it $10K/acre as a base to start with or do a combination of the surface and mineral and/or acess rights under US jurisdiction. Course that’s just the budget and we’d want to include the debt in the calculation to ensure we properly value the $, but doesn’t this make sense to a degree? Countries with more property and therefore more resources would have greater backing of their currency then those without resources.
Thoughts?