A recent Treasury research paper admitted that there was no fail-safe method to estimate the correct value of a currency.

最近财政部的一份研究论文承认，在评估一种货币的正确价值时，并没有一种万无一失的方法。

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Of course, to guard against inflation it would be far better to anchor a currency to a tradable index of real things than to paper currencies.

当然，要防止通胀，以一个可以成交的实物价格的指数为锚，远胜一篮子用纸造的货币。

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Crudely put, the US possesses around one-fifth of the world's GDP, but its own paper provides around 75 per cent of the world's exchangeable currency reserves.

粗略说来，美国约占世界GDP的五分之一，但美国自己的报纸提供数据说：美国的可兑交的货币储备约占世界可兑交货币储备的百分之七十五。

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More likely, he believes that driving the system toward a single fiat paper currency is a precursor to slipping a hard commodity anchor onto that single world paper currency at just the critical moment easier to bell a single cat than herd them all into a corral and tag them each individually.

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From 1861 until 1873 neither gold nor silver were used as currency and all US currency was paper which could not be exchanged for either.

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An inverse relationship between the issuance of paper by the state and the hard-currency value of that paper has been recognized for centuries, and it can be observed in U.S. history.

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