Money: The Golden Hoard

Gold is no longer the coin of any realm, but it remains the one truly international money. It is the solid underpinning of central banks and national treasuries, the most favored way of paying debts among nations. Though no longer the real measure of a nation's wealth, it can set heads to shaking by its movements, as they shook again last week when the U.S. announced a $70 million gold outflow in June (double the loss in May). Despite all this interest, no one knows exactly how much gold the world has. In a new report, Barclays Bank of...

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