Central banks should consider issuing digital money, IMF's Lagarde says
- IMF Managing Director Christine Lagarde said central banks should "consider the possibility to issue digital currency" in a speech in Singapore on Wednesday.
- Lagarde said the nature of money is changing as demand for cash decreases around the world.
- Central banks and financial institutions could partner to address the risks of digital currencies, Lagarde said.
The gold market is bigger than all financial markets – exceeded only by bond and money markets.
A point to consider here is that gold is not traded at the commodity desks of large banks. It is traded at the currency desks. And a staggering $250 billion worth of gold changes hands on a daily basis via the London Metals Exchange.