Would a land-backed currency work?
Disclaimer: I have minimal knowledge of monetary policy and economics as a whole, plus I'm new to Georgism. But here is my drain of thought:
As you all know, the currency we use is fiat currency and it's backed by nothing but trust, we need to establish some sort of fiscal responsibility to stop the government from overprinting, now what I say is, let's have a currency backed by the total land value of that country, for example, if the total land value of that country is say 1 trillion-dollar in land value, the money supply should always stay below 1 trillion-dollar. Advantages: -> Unlike fiat currency, this currency is backed by a tangible asset, rather than just trust -> money supply will be capped, and governments can't over-print money, lower inflation(more stability)
Now, you might say land values are extremely volatile; this is where LVT would make land suitable for currency backing because LVT could potentially remove all speculations and make land prices stable.
Your thoughts.....