The World Gold Standard System Will Rise Again—But, Not Yet
The comments below are an edited and abridged synopsis of an article by Nathan Lewis
It is becoming clear that the current monetary system is not a stable, reliable and uniform platform upon which rational economic calculation and rising prosperity can be based.
There is a group of leaders that seems to be looking the existing system with increasing skepticism. These are presidents and prime ministers, the leadership of China, elements within the CIA, NSA and Kremlin, and military men who regard economic performance as an important part of national security. These people can see the obvious: The world’s gold standard system worked very well, for centuries, prior to its dissolution in 1971, and we haven’t developed any viable alternatives since then. It seems like today’s national leaders are gradually reaching a consensus about how the world’s monetary system should be structured. They are preparing to return to a gold standard system.
Lewis discusses the views of several prominent pro-gold people (Jim Reid of DeutscheBank, Malaysia’s Prime Minister Mohammad Mahathir, President Trump, Jim Rickards), and notes that China and Russia have been making gold-friendly statements for years, backing this up with an apparent agenda to increase their gold bullion reserves.
Lewis also sets out how establishing a worldwide gold standard could be accomplished.
