by D. Collins
The China Money Report
Gold has been flowing East for a decade. When the West wakes up to the fact that their gold is gone, they will no longer have sound money with which to back a currency. The world has only been off a gold standard since 1971 and every currency collapse in history has used precious metals to backstop the regimes new currency. In the U.S. that will not be possible in the future, we have bet the farm on fiat currency. Currency debasement has been tried time and time again since civilisation started using money. It has failed every time…perhaps this time it will work?