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Currencies After the Crash: The Uncertain Future of the Global Paper-Based Currency System by Sara Eisen

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CHAPTER 8

A ROLE FOR GOLD

PETER BOOCKVAR

“The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”

—Robert Zoellick, former president, World Bank, November 2010

Whether it is considered to be jewelry, money, a collectible, or just Au 79 on the periodic table, the known history of gold dates back to around 4000 BC. It’s because of this longevity and because of gold’s sustainability in many aspects of economic life all over the world that its importance and uses must be correctly understood. Of late, with the price of gold rising for 11 straight years after 20 years of falling prices and reaching record highs, its context and relevance today ...

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