American Open Currency Standard American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology when congressman Ron Paul
Shadi A. Karam reasons for this are "principally the lack of extensive distribution networks, the absence of comprehensive trade agreements that go beyond the existing accords and the fact that transactions have to go through the US dollar." As such, Karam has become one of the leading voices in the Arab Middle East calling for a common currency. "The pegging to the US dollar of most of the major currencies in the region will facilitate the technical engineering of the process," he says. "This currency could be named the Umma, with reference to the unattainable dream of a unified Arab nation." Admitting that