Liberty and Finance: Gold Moving East? Here’s Why it Doesn’t Matter

Phil Low, a renowned economist, recently joined Liberty and Finance for an enlightening discussion that challenges the widespread concern over China’s massive gold hoards. Low argues that the accumulation of gold by China is not something to fear, as it does not automatically translate to economic power or stability. The notion that whoever controls gold makes the rules is a common misconception, according to Low. History has shown that regions with an overabundance of gold often suffer from economic stagnation and misallocation of resources. Low likens China’s gold hoarding to past gold rushes, such as the California Gold Rush or…