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Alasdair Macleod: Gold re-entering monetary system

Section: Daily Dispatches

2p ICT Monday, July 2, 2012

Dear Friend of GATA and Gold:

Writing at GoldMoney, the economist Alasdair Macleod joins those noting official proposals to recognize gold holdings by banks as equivalent -- and, implicitly, superior -- to government-issued cash.

Macleod writes: "What is sauce for the commercial goose is also sauce for the central-bank gander: It makes no sense for the central banks to continue to marginalise gold on their own balance sheets. Instead, central banks should abandon the myth of valuing gold on their books at $42.22 and treat it as a proper monetary asset. ... What this proposal amounts to is no less than the official remonetisation of gold."

Macleod's commentary is headlined "Gold Re-entering Monetary System" and it's posted at GoldMoney here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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