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Europe Has Been Preparing A Global Gold Standard Since The 1970s

• https://www.zerohedge.com by Tyler Durden

 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.

When the last vestige of the gold standard was terminated by the U.S. in 1971, 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.

If you want to read a summary of this article you can skip to the conclusion.

Contents:

The Rise and Fall of Bretton Woods

Europe Equalizes Gold Reserves Internationally

Private Gold Ownership Distribution

Setting the Stage for a Gold Standard

Conclusion

 Sources


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