Gold and the Barbarians

"Gold has hit fresh highs against the dollar recently, trading at well over $1,400 per troy ounce in the last month, from under $300 per troy ounce 10 years ago. The metal’s mounting value is hooked directly to its economic role as a stable alternative to paper currencies, and its rise should tell us something about the health of the global monetary system. Unfortunately monetary authorities around the world still broadly misunderstand and even dismiss gold’s role. How else to explain their recent policies ?"

Institut économique Molinari | Gold and the Barbarians