I mentioned in another thread the possibility of new currencies being created as the US dollar ( FRN - Federal Reserve Note) falters.
Texas has taken the first steps in this direction:
From an article on Breitbart.com, dated 6/17/15:
http://www.breitbart.com/texas/2015/06/17/abbott-signs-law-to-bring-1-billion-in-gold-reserves-back-to-texas/"...
The bill does much more than simply save the $1 million per year storage fee being paid to the bank. It establishes the only state run depository, payments system and safe haven for gold that cannot be confiscated by the federal government. The new payment system,
according to an article on
Talking Points Memo (TPM), will allow businesses, other state agencies and individuals a secure place to store gold, silver, platinum, palladium and rhodium deposits and then be able to make electronic transfers from those assets – “one that will create a metal-backed money supply intended to rival the paper currency issued by the Federal Reserve,”
TPM wrote.
..."
Note the item "payment system" in the quote. This is probably completely electronic, with no paper bills to be issued.
There are e-systems in place which might provide the level of security needed (bitcoin, biggold etc.)
Whether this goes anywhere remains to be seen, but it a kind of "writing on the wall" for the future of fiat money.
Keep an eye on this kind of change.
A web search will reveal other discussions of these plans. (NOT Google(r), unless you want them to record your interest in the subject...)
Opinion, I would not trust my gold / silver in the hands of a government managed facility. I much prefer to have the physical metal in hand. It is a needed part of prepper supplies.
The draw-back to physical metal is that there is not enough physical metal to replace the coinage and paper FRN's that are in circulation today.
Next-best would be a paper bill drawn on the gold in vault, with the trust factor being a big part of the value of such bills... That implies an accounting system to print and track such bills, not a good route, based on what we see today.
What would be your preference, in place of the FRN?