/biz/ - Business & Finance

>>53351258
>wrote to Paul Volcker regarding the gold issue that "the distribution of … world [gold] reserves would be highly inequitable, with eight wealthy countries getting three-fourths, while the developing countries would get less than 10 percent." The Europeans thought about this problem, and they helped solving it by equalizing gold reserves internationally.
The thing about returning to the gold standard is that you want reserves to ~match GDP as it is now to facilitate trade and avoid some shithole becoming immensely wealthy overnight. The eurozone have been distributing/storing gold accordingly for a long time and could transition very easily if (((no-one))) would have a hissy fit about them doing so