Here are some simple examples of potential gold currencies:India Gold (ING),US Gold (USG),Euro Gold (EUG).Bank reserves for gold currencies can be defined as physical metal, but unlike a classical gold standard, these currencies could be based on both physical metal and credit. This makes sense because we live in a world of credit and our banking infrastructure is based on credit.A (named) gold currency can be defined as gold or gold credit denominated in ounces or grams. A (sovereign) gold currency can be defined as a (named) gold currency issued by a sovereign state. A (shared) gold currency can be defined as a (named) gold currency issued by multiple entities which cannot purchase their own gold currency debt securities.Gold reserve accounts can be defined as bank deposit accounts backed by metal and gold credit accounts as those which are not. Gold reserve certificates can be defined as debt securities backed by metal and gold credit certificates as those which are not.Redemption of reserve accounts or reserve certificates for physical gold would naturally result in the cancellation of any further interest payments, and market based interest rates could be paid on gold credit accounts and gold credit certificates.The entities issuing these currencies can be assumed to be private, national or multinational entities which cannot purchase their own gold credit certificates.The base money reserve assets of gold currencies can all be defined as similar reserve items and this should facilitate international trade settlement.In principle, there is a simple 5-step process for issuing gold currencies as follows. (1) Definition of terms, (2) International standards preventing inflation, (3) Legal tender in relevant jurisdictions, (4) Inclusion of relevant currencies in payment and accounting systems, and (5) Physical gold to back any reserve items.Gold credit accounts and gold credit certificates would not need to be backed by physical metal. Only reserve items would need to be backed by metal and this should minimise he need for physical gold reserves by gold currency issuers. Gold currency issuers would, however, need to remain solvent and could not purchase their own gold credit certificates. This should prevent them from printing gold credit currency out of thin air.As an example, the USA could issue both the US dollar (USD) and a (sovereign) US Gold currency (USG), and entities could keep their books and pay their taxes in either if both were legal tender.As another example, the European Union could issue both the Euro (EUR) and a (shared) Euro Gold currency (EUG), and this could allow the creation of a fiscal union based on Euro Gold credit certificates issued by the European Commission and member states.The USA could issue Euro Gold credit certificates, and the European Union could issue US Gold credit certificates, and other countries could issue both.Gold currencies could trade on FOREX markets in ounces or grams.All of this could be implemented on existing infrastructure, including banking, payment, FOREX, futures, credit, insurance, bullion and accounting infrastructures. Read more