Today, gold is no longer used as a medium of exchange. So why do central banks worldwide continue to cling to an asset with a negative rate of return?
In Gold: The Historical Reserve Currency, Dr. Alan Greenspan, sheds light on the perplexing phenomenon, highlighting the multifaceted role gold plays in the global financial landscape.
Dr. Greenspan’s analysis provides insights into:
- The distinction between Representative Money and Commodity Money
- The reasons behind gold’s evolution from a trade powerhouse to an economic outsider
- The factors influencing policymakers’ decision to retain gold bullion despite mounting pressures and shifting economic paradigms
Download the exclusive ACM white paper now, and gain access to Dr. Alan Greenspan’s profound analysis of the enduring significance of this ancient metal.