Goldman Sachs Raises Gold Forecast Another 8.5% on MMT and 2020 Presidential Election


Gold Versus World Currency Unit ALL TIME HIGH

via m3k @_tm3k

WCU is an index of all fiat pairs

The World Currency Unit (WCU), or alternatively and perhaps more accurately, the “Global Purchasing Power Unit”(GPU), is an indexed unit of account that stands for a unit of real global purchasing power. Proposed by Lok Sang Ho in a paper in World Economy in 2000 when he was a Professor of Economics at Lingnan University, Hong Kong, it was first intended to be the basis for denominating global bonds. Such bonds can serve as a reserve asset and offer the advantages of proofing against inflation and exchange risk containment at the same time.

Since then the conceptual paper has grown into a project to demonstrate its workability. A website was developed based on several experimentations with alternative formulae, ending up with annual reweighting of the underlying currency basket. The website at first offered daily quotations of the benchmark basket as well as the inflation-indexed basket in 10 currencies. It was extended to 20 currencies. A recent paper by Ho (2018) provides more details.