China Now Sets the World Gold Price—Preparing for A Gold-Backed Currency
Who today sets the world price of gold? It is not the United States and not Europe. The concept of the marginal purchaser becomes germane, here. It is a bit complicated, but it means the party who at a given time, at a given price, is always a buyer, but at a higher price is not. Some will want to debate that definition, but put simply we are talking about the prime, dominant buyer. And that, today, is the People’s Republic of China (PRC).
Apr 29, 2024
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3 minutos
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