Gold standard is reborn amid central bank surge
For the first 40 years after President Nixon closed the gold window in 1971, central banks mostly unloaded their gold to exercise their faith in fiat money. In 2011, however, Congress passed the Budget Control Act of 2011, which raised the debt ceiling by $2.4 trillion through…
For the first 40 years after President Nixon closed the gold window in 1971, central banks mostly unloaded their gold to exercise their faith in fiat money. In 2011, however, Congress passed the Budget Control Act of 2011, which raised the debt ceiling by $2.4 trillion through…
BELLINGS Intelligence Score: 55
Why it matters
The rebirth of the gold standard would represent a significant structural shift in monetary policy and central bank behavior, with broad systemic implications for credit markets and global finance, though the details and implementation remain unclear.
Sources
TheStreet
Gold standard is reborn amid central bank surge
For the first 40 years after President Nixon closed the gold window in 1971, central banks mostly unloaded their gold to exercise their faith in fiat money. In 2011, however, Congress passed the Budget Control Act of 2011, which raised the debt ceiling by $2.4 trillion through…