In These New Times

A new paradigm for a post-imperial world

Europe has been preparing a global gold standard since the 1970s

Posted by seumasach on July 20, 2020

This article is a revelation to me: I have been looking t this issue for some time but have been unaware of the EU’s preparatory moves towards a gold-backed international financial system. Despite the endless stream of ridicule directed against the EU leadership it would appear that something of real value has been accomplished. This all makes sense when we recall Giscard d’Estaing’s reference to America’s “exorbitant privilege” of being able to issue fiat to cover a permanent trade and capital deficit. Perhaps to complete the picture we only need to suppose a vast underestimate of China’s gold holdings.

 

Jan Nieuwenhuijs

Voima

15th July, 2020

Research reveals that European central banks have prepared a new international gold standard. Since the 1970s, policies that paved the way for an equitable and durable monetary system have gradually been implemented.

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