Odaily Planet Daily reports: Former Vice President of the Bank of China, Wang Yongli, authored an article titled “Where Does the Massive Increase in Money Supply Come From?” which points out that modern currency has completely transitioned from metal-backed paper money to a system no longer anchored to any specific tradable wealth asset. Both monetary theory and practice have fully demonstrated that anchoring to any specific wealth will inevitably cause the total money supply to be unable to keep pace with changes in the total value of tradable assets. This can lead to severe constraints or hindrances on exchange transactions and economic and social development due to money shortages. Therefore, returning to the gold standard or seeking new anchors for currency (such as cryptocurrencies like Bitcoin, rare earths, energy, etc.) is a misunderstanding of the nature and developmental laws of money.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC drops below $67,000, down 1.18% within the day
Gate News Report: On March 7, BTC dropped below $67,000, declining 1.18% within the day.
GateNews43m ago
Ripple Expands Institutional Trading With Coinbase Derivatives BTC, ETH, SOL, and XRP Futures
Ripple added Coinbase BTC, ETH, XRP and SOL futures to Ripple Prime, its platform that cleared more than $3 trillion in 2025.
Trades are processed through Nodal Clear, giving institutions 24/7 access to CFTC-regulated crypto futures in the U.S.
Ripple has added Coinbase Derivatives’
CryptoNewsFlash47m ago
