The track record of revaluing gold reserves to address monetary or fiscal challenges is mixed, with the countries that needed it the most seeing the least sustained impact while the countries that used it most judiciously didn’t need it at all, according to new research by Colin Weiss, principal economist for global financial flows at the Federal Reserve. “With public debt at high levels, some governments have begun to explore financing additional expenditures without raising taxes while also not increasing public debt outstanding,” he wrote in ‘Official Reserve Revaluations: The International Experience’ on August ... (full story)