Techub News: In an article titled "Where Does the Massive New Money Supply Come From," former Vice President of the Bank of China Wang Yongli pointed out that modern currency has completely transitioned from metal-backed paper money to a system that is no longer anchored to any specific tradable wealth asset. Both currency theory and practice have fully demonstrated that anchoring to any specific wealth will inevitably cause the total money supply to be difficult to adjust in line with the total value of tradable assets. This can lead to severe restrictions or obstacles to exchange transactions and economic and social development due to currency 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.

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