Gold 2.0? Try Reserve Asset 3.0


From there, Bretton Woods II was born, the place the greenback nonetheless dominates, however in a system that largely makes use of “inside cash.” Inside cash is made up of claims which might be another person’s legal responsibility, whereas outdoors cash is the kind of cash that’s the legal responsibility of nobody. In different phrases, the cash system turned largely debt-based. So when China holds U.S. Treasurys, that’s inside cash. When Russia sells USD to purchase gold, that’s outdoors cash.

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