Gold prices also being blamed for high inflation rates? Wow, this is interesting ans I think that the article in the Gulf Times seems to blur the issue..... and why then was currency pegging/backing by gold removed in the early 1970s and replaced by the US Dollar? I think the opposite is true: There must be some sort of dependency (or backing) by the central banks on gold reserves rather than over-dependence or over-reliance on the US Dollar.
Gold prices also being blamed for high inflation rates? Wow, this is interesting ans I think that the article in the Gulf Times seems to blur the issue..... and why then was currency pegging/backing by gold removed in the early 1970s and replaced by the US Dollar? I think the opposite is true: There must be some sort of dependency (or backing) by the central banks on gold reserves rather than over-dependence or over-reliance on the US Dollar.