Benjamin Graham's Forgotten Masterpiece | World Commodities & World Currency | Between the Lines
Benjamin Graham is known as the father of value investing. But in 1944, while the world's architects gathered at Bretton Woods, Graham published a very different book — one that almost nobody reads today, but speaks directly to the currency debates we're having right now. 'World Commodities and World Currency' proposed something radical: a global currency backed not by gold alone, but by a basket of essential commodities — wheat, cotton, copper, oil. A currency anchored to the real economy, not to the abstraction of a single metal or the promises of a single government. The proposal was ignored. Bretton Woods chose the dollar-gold system instead. Eighty years later, as that system fragments — as central banks stockpile gold, as China builds commodity-backed trade infrastructure, as stablecoins search for anchors — Graham's forgotten book reads less like history and more like prophecy.
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