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Why the Money Makers Keep Gold
When the people responsible for creating money explain why they keep gold, I think it’s probably good to pay attention to the reasons they give. At the LBMA conference in Sorrento this week, which GoldCore attended, Bundesbank president Joachim Nagel offered one that was rather more candid than the usual discussion of portfolio diversification. He […]
The Money Behind the Name
In 1729, Thomas Prior was wrestling with a rather awkward problem: Ireland had gold coins, but people were struggling to find the change. Portuguese gold pieces known as moidores circulated at valuations which, he argued, had encouraged silver and other coins to leave the country. Having something valuable in your pocket was useful, although rather […]
