"What’s going to happen? They’ll default to gold for settling accounts... I’m not saying they’ll allow their subjects to save in and trade in gold.... But I think it’s inevitable for settlements between governments. The only alternative is barter—”I’ll trade you a thousand tonnes of cocoa for two used tanks, 500 cows, and 100 tonnes of wool.” A flea market transaction that’s not very likely in a complicated industrial world… That’s why money was invented.

The world is going back to gold. "

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