13

A New Reserve Currency, Part 2

GOLD WILL BACK a new reserve currency, pushing gold prices far higher. Of that much I’m certain.

But the precise form the new system will take and the precise way gold will be brought in—and what it will mean for gold’s ultimate price—will become clear only over time. I can speculate about it here, but I freely admit that speculate is the operative word.

In this chapter, I offer some ideas that seem plausible to me for how it all will shape up. Clearly, if I’m at all on target, in the coming years, the world’s monetary relationships will look radically different from today. And clearly, the price of gold will be far, far higher.

Before diving in, I’ll emphasize again that this will be nothing like your grandfather’s ...

Get China's Rise and the New Age of Gold: How Investors Can Profit from a Changing World now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.