黄金将走向何方?

Whither Gold, A. Fekete
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引用次数: 2

摘要

这一创新产生了两个直接的后果,而这两个后果在有关这一主题的技术和学术文献中都被明显地忽视了:(1)在正常支付过程中减少世界总债务的能力已经丧失:现在只能通过违约或货币贬值来减少总债务;(2)各国失去了与世界其他国家保持经常账户平衡的选择:每个国家都必须应对无休止的赤字。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Whither GOLD?
This innovation has had two immediate consequences, both of which are pointedly ignored in the technical and scholarly literature on the subject: (1) the power to reduce the world's total debt in the course of normal payments has been lost: total indebtedness can now be reduced only through default or through currency depreciation; (2) countries have lost the option to balance their current accounts with the rest of the world: each country has to cope with unending deficits.
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