A system that uses commodity-backed paper currency is most like a system that

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A commodity-backed paper currency system is one that is backed by a physical commodity, such as gold or silver. This is similar to a system that uses commodity money, where the physical commodity itself serves as the currency. It is different from a system that uses fiat money, where the currency is not backed by a physical commodity but instead by the government's guarantee and people's trust in the stability of the economy.

A System That Uses Commodity-Backed Paper Currency Is Most Like