2012-06-02usagold.com

the World Gold Council moved to "incorporate official sector purchases as an element of gold demand" (my emphasis) in its fundamentals table. Previously central banks occupied a slot on the supply side of the ledger.

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I do not believe that some version of the gold standard is necessarily the best or only approach to restoring gold's place in the monetary system. Simply using gold as a reserve asset as Nobel prize-winning economist Robert Mundell suggested many years ago could go a long way in restoring confidence in the various currencies


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