An expert expects the world to return to the gold standard
The Independent / – The Russian economist, Pavel Segal, indicated that the possibility of re-linking paper currencies to the gold standard is being discussed more and more in the world, pointing out that there are positive and negative aspects of this step.
“The rise in the volume of unsupported currencies in the world over the past years has prompted traditional economists to start thinking about the world’s return to the gold standard,” said Segal, CEO of Opera Russia.
The veteran economist pointed out that gold prices do not show large fluctuations like what happens to most currencies in the world and stock markets, and that the precious metal helps fight inflation, but he noted that the adoption of the gold standard opens the way for rapid devaluations and revaluation of currencies, which It prompted the world at one time to give up on the thought of this move.
Prior to that, the economist, Peter Schiff, expected that gold would resume its role again in the global monetary system, in light of the economic crisis the world is witnessing.
The expert expected a rise in precious metals prices in the near future, and said that “while the world is dealing with the Corona crisis, gold and silver prices are witnessing a rise, there are big movements in gold and silver coming.”
The economist advised everyone to stay away from the dollar before it was too late, and said that “the yellow metal will resume its role in the global monetary system, as the world will return to the gold standard.”
Gold is a safe haven in times of nervousness and volatility, and after the outbreak of the Corona crisis, the prices of the precious metal rose significantly, and today the yellow metal is trading at the level of 1923 dollars per ounce.