gold Bloomberg/Getty Images

是新兴市场国买入黄金的时候了

发自剑桥——新兴市场央行是否存在着过度倚重美元而轻视黄金的问题?眼下全球经济放缓,新兴市场国家对自己的所有储备都格外珍惜,这个时候问这些问题似乎不合时宜。但新兴市场转而买入黄金会有助于国际金融体系运作更为顺畅,并使各方受益。

必须明确的是,我并不和那些赞成回到金本位制(国家将自身货币的价值与黄金挂钩)的人——通常美国的极右翼疯子——站在同一阵线。毕竟金本位制度在1930年代走向了灾难性的终结,也没有理由相信回归这一制度会令情况变得有何不同。

同时,我不是提倡新兴市场要将其当前持有的数万亿美元外汇储备(仅中国就拥有3.3万亿美元的官方储备)中的大部分换成黄金。即便是要换,比如将外汇储备的10%换成黄金,也难以让它们向那些许多官方外汇储备(诚然较规模较小)中黄金比例占到60~70%的富裕国家靠拢。

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