The amount of specie in circulation, divided by the assets that back that specie.
Perhaps it'd be worth $10000?
That would represent massive deflation. Normally, governments print enough specie to at least keep up with the asset growth that backs it. If not, they might require massive taxation (recovery of existing specie) to cover their costs.
The amount of specie in circulation, divided by the assets that back that specie.
Perhaps it'd be worth $10000?
That would represent massive deflation. Normally, governments print enough specie to at least keep up with the asset growth that backs it. If not, they might require massive taxation (recovery of existing specie) to cover their costs.