Beyond industrial and luxury purposes like computers and jewelry, why do communist countries need to mint gold bullion? I guess it has something to do with trade but it’s seems to be used internally too, so how is gold used exactly in communism?
Beyond industrial and luxury purposes like computers and jewelry, why do communist countries need to mint gold bullion? I guess it has something to do with trade but it’s seems to be used internally too, so how is gold used exactly in communism?
as far as i understand Soviet gold would be used to purchase foreign currency with which to conduct foreign trade. This isn't really that different from how other countries do it from my understanding... except in the level of state control? but even in the US the government holds levers on foreign exchange and trade...