I don't think it is. It looks like a revolutionary idea they have come up with!
DIGITAL GOLD STORED AND TRANSFERRED IN THE CLOUD
I think the biggest problem is people trying to wrap their heads around the idea as its never been done before
trading on Ripple and a coin that is backed by precious metals.and remember the whole idea behind ripple is BASED on TRUST..I'LL give you a simple example..would you trust JP Morgan Chase with your gold/silver or your best friend that grew up with you and has a good safe in his house and keeps quiet about it?
See the whole banking system is based on TRUST but we all know how that has played out over the years
so we need to help each other out and start trusting each other, take back the power that is supposed to be ours!
So as nofiatcoin gains TRUST and continues to organically spread around the globe people will finally get it.
it took me awhile for it to sink in, i think of it this way
They are building their own ecosystem that will be impenetrable to the FIAT Junkies..
Remember gold/silver have been around for 6000 years.Fiat currencies have come and gone by the 100's!
The ball is in our court now
you can hit it back or let it drop in front of you and keep feeding the beast!
Scandal: Bank Of England Encouraged Currency Manipulation By Private Banks http://www.zerohedge.com/news/2014-02-07/scandal-bank-england-encouraged-currency-manipulation-private-banks 
