THE TROY

I am new to this forum but I came here as a result of searching out how to create a clone of Bitcoin.  I have a concept that dates back to Machiavellian.  He essentially said that bad currency would replace good.  This has been a truism for hundreds of years now.  We live today with most world currencies being FIAT Currency.  The power of the currency is held in the confidence of the people.  When people lose faith in the currency rampant inflation ensues.  When currency is minted in whatever fashion inflation also ensues and when rampant minting occurs then rampant inflation ensues.  My proposal is to tie a Digital currency like Bitcoin to precious metals and create a Digital currency that has a precious metal standard tied to it.  A potential name for this currency would be the TROY where one COPPER TROY is directly tied to One Troy Ounce of Copper, one SILVER TROY is tied to the value of one troy ounce of Silver and one GOLD TROY is tied to one troy ounce of GOLD, and so on for all precious metals.  TROY OUNCE COINS are already available, minted and certified by several minting houses worldwide.  Tie these coins to the new currency and you have a stable currency that is no longer Fiat Currency.  And you also now have a currency that can be used Digitally and Physically and is safe from rampant inflation.  All FIAT CURRENCY, which is either, printed money, struck coin, or digital in any form can now be measured to the ONE WORLD CURRENCY that is not FIAT in nature.

An exchange would need to be set up initially to exchange DIGITAL TROY for actual BULLION.  In so doing the Exchange would also be the Mint and TROY would only be minted when an exchange of hard metal was deposited with the Exchange.  An exchange of Fiat Currency would only have already existing TROY exchanged for it thereby avoiding Fiat inflation from ever infiltrating the value of the TROY.  To avoid interest inflated greed from infiltrating the TROY a pre-set enforced low exchange price needs to be tied to transactions.  A Physical Troy Ounce of metal will trade for a Digital TROY at par.  Fiat Currency however will have an exchange rate tied to it at, say one percent over.  So the purchase of a SILVER TROY that is say valued at $20.00 USD per ounce would cost $20.20 USD.  This will help to replace good currency for bad and mark the end of Fiat Currency worldwide.  As a result the Exchange would eventually Mint the Metals taken in into Physical TROY coin.  With the certification of the Exchange/Mint struck into the coin.  As such there would be no need for the security of places like FORT KNOX.  The Precious Metals that back the Currency would now be within the hands of the Worlds Population and the people would hold security of the currency. 

When the people hold the security of the currency and it is backed by hard metal the only danger to the currency that is left is GREED.  I am not saying that Greed is good or bad but it has one effect that does devalue the currency.  When ultimate GREED takes place and all or most Hard Coin gravitates into a few hands then inflation takes over and the people will do or offer less for more currency.  The value of hard bonded currency is only there when it is in circulation.  Hording inflates that value.