Private sector should lead gold standard adoption | Analysis & Opinion |

Private sector should lead gold standard adoption | Analysis & Opinion |: "An alternative route for dealing with global distrust of currencies inflated by excessive monetary easing would be for the private sector to start using gold in ordinary transactions. Exporters from Germany or China, for example, distrusting the dollar and not wishing to use the possibly fissiparous euro or the state-controlled yuan, could invoice customers in gold, thus creating gold-denominated trade paper. Banks wishing to serve such customers could offer gold-denominated accounts, either hedging themselves in the futures market or maintaining a gold fractional reserve against such accounts."