This course will explore the evolving role of precious metals, banks, and the real economy. From the 19th century to the early 20th century, the U.S. dollar was linked to gold, with the value of the dollar underpinned by government-held gold reserves, and gold was regarded as an "anti-inflation asset."

Precious metals—gold in particular—are seen as "safe haven assets." During the market downturn triggered by the COVID-19 pandemic in 2020, when U.S. stock prices fell sharply, gold prices surged. The United States has leveraged Precious Metals technology to bolster its "financial hegemony."

Although this technology holds the potential to significantly enhance the productivity of global financial services, regulators are confronting novel challenges related to taxation, money laundering, privacy, and securities registration. We will address these issues and others, and invite guest speakers from the digital assets community.