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J.P. Koning: An early attempt at standardizing money using international gold coins
11:43a ET Sunday, December 16, 2018
Dear Friend of GATA and Gold:
Writing at Bullion Star today, economist J.P. Koning recounts attempts from the mid-1800s to standardize the gold coins of the major Western nations to facilitate international trade. The mechanics weren't too difficult but the politics proved to be.
Of course computers and the internet today make gold's divisibility and exchange in international commerce easier than ever, but the politics is a greater problem, since no government really wants to diminish its power by increasing gold's use in the world monetary system and thereby liberating people from fiat money.
Koning's essay is headlined "An Early Attempt at Standardizing Money Using International Gold Coins" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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