gold, page-94443

It’s often forgotten that the humble bank note carries the simple words “promise to pay the bearer”. In effect it is an iou. Regardless of whether currencies are physical or digital, they are all a promissory of one kind or another from The Central banks, and for them to hold any form of credibility they need physical reserves to back them up, and as M2 spirals up those reserves need to get larger. Doubtless some of those reserves will be in gold.