{"id":54285,"date":"2020-07-20T07:48:52","date_gmt":"2020-07-20T12:48:52","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54285"},"modified":"2020-07-20T07:48:57","modified_gmt":"2020-07-20T12:48:57","slug":"europe-has-been-preparing-a-global-gold-standard-since-the-1970s","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54285","title":{"rendered":"Europe Has Been Preparing a Global Gold Standard Since the 1970s"},"content":{"rendered":"\n

Europe Has Been Preparing a Global Gold Standard Since the 1970s<\/a><\/h3>\n\n\n\n

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.\"\"<\/p>\n\n\n\n

In my view, the current fiat international monetary system is ending\u2014unconventional monetary policy has entered a dead end street and can\u2019t reverse. I have written<\/a> about this before, and will not repeat this message in today\u2019s article. Instead, we will discuss a topic that deserves more attention, namely that European central banks saw this coming decades ago when the world shifted to a pure paper money standard. Accordingly, European central banks have carefully prepared a new monetary system based on gold.<\/p>\n\n\n\n

When the last vestige of the gold standard was terminated by the U.S. in 1971<\/a>, circumstances forced European central banks go along with the dollar hegemony, for the time being. Sentiment in Europe, however, was to counter dollar dominance and slowly prepare a new arrangement. Currently, central banks in Europe are signaling that a new system that incorporates gold is approaching.<\/p>\n\n\n\n

If you want to read a summary of this article you can skip to the conclusion.<\/p>\n\n\n\n

Contents:<\/p>\n\n\n\n