A peasant trundled his cart in from the suburbs of Lyons last week. The cart was heavy. Beneath a load of warm manure nestled 110 pounds of golden 20-franc pieces done up in sacks. Arrived at the Bank of France the peasant, Jacques Brosson, winnowed out his sacks of gold, exchanged them for 730,000 paper francs, hired a taxi, returned home to hoard paper which he believed would soon appreciate.
All over France similar scenes. . .
The cause?
The Bank of France and its subsidiaries have recently begun to purchase gold with paper francs...
To continue reading:
or
Log-In
