Sentence examples for Unbacked currency from inspiring English sources
In this day of unbacked currency and electronic balances, the whole concept requires a leap of collective faith.
Jan Skoyles wrote her dissertation on the importance of precious metals to the monetary system, arguing that historically unbacked currencies have tended to last approximately 48 years, but always revert back to the precious metals markets, of which there is a finite supply, as the true determinant of value.
The dollar index simply reflects the relative strength of the dollar versus a basket of other fiat (unbacked paper) currencies.
Markets see a common currency unbacked by the coherent fiscal policies that a single government provides, so pressure exists for more political integration.
In an economy with lots of competing currencies (particularly cryptocurrencies unbacked by any commodity), it would work very differently.
The point is that Bitcoin is a virtual currency sustained by a Ponzi-like belief that it is not worthless, and unbacked by the banking sector, gold or any of the established underpinnings of monetary value.
The Swede was virtually unbacked pre-tournament.
Sheets can be unbacked or backed with felt, hessian, plastic foam, cork, or fabric.
I wonder if we will regret letting him go unbacked at 60-1 on Betfair.... was 1 minute 38.37 seconds.
Washington Irving really could still be anything at this trip, and at 40-1 I can't let him run unbacked.
