Gold is to play a role as a hedge and a safe haven, but is unlikely to play a formal role in the international monetary system, according to Chatham House.
A return to using gold as an anchor would "be impractical or even damaging, given gold bullion's deflationary bias". Also see "Reasons against gold standard".
I acknowledge Mineweb's article "Return to gold standard could be damaging - report".
A return to using gold as an anchor would "be impractical or even damaging, given gold bullion's deflationary bias". Also see "Reasons against gold standard".
I acknowledge Mineweb's article "Return to gold standard could be damaging - report".
The world's economic system is controlled from the same source irrespective of the varying individual, national, political and economic adaptations.
ReplyDeleteThe gold standard has never left that system, and has always remained the hub around which everything else revolves.
To put in very simple terms - Macro trade, and accounting for the 'Financial Elite' balancing the books is backed by gold.
Micro trade for the masses is Fiat, backed by nothing but 'promises'.
The gold price is the definitive measure which affects both - either directly or indirectly.
That is why it's price is set daily - by 'the International Bankers'. Low betide anyone who would be stupid enough to even hint at attempting to challenge that.