Gold: Old Money in New Skins

Since the financial crisis, investors and central banks have once again increasingly placed their focus on the price of gold again. The paper argues that this development can be explained by the loss of confidence in the international monetary order and the underlying credit money system. Gold has a 2,500-year history as money and during this time has seen all government and money systems come and go. Gold can also regain an important role as a currency in the future. Marius Kleinheyer of the Flossbach von Storch Research Institute explains.