Difference between revisions of "Gold"
(Gold standard) |
m (Text replacement - "20th century" to "20<sup>th</sup> century") |
||
| Line 5: | Line 5: | ||
|description=The 79th element. A very dense, soft, malleable and ductile metal which has been desired by many people in many cultures for its ornamental value and for trading. | |description=The 79th element. A very dense, soft, malleable and ductile metal which has been desired by many people in many cultures for its ornamental value and for trading. | ||
}} | }} | ||
| − | '''Gold''' has been used as a currency for thousands of years. It has been used throughout history either as physical coinage or as solid cornerstone for stable paper currencies. Up until 1913, most Western societies prospered and grew steadily and naturally under a monetary standard with at least partial gold backing. The gradual abandonment of the gold backing throughout the | + | '''Gold''' has been used as a currency for thousands of years. It has been used throughout history either as physical coinage or as solid cornerstone for stable paper currencies. Up until 1913, most Western societies prospered and grew steadily and naturally under a monetary standard with at least partial gold backing. The gradual abandonment of the gold backing throughout the 20<sup>th</sup> century and the ultimate delinkage of all currencies from gold in 1971 is the fundamental cause of the ongoing inflation (the US-Dollar has lost 98% of its purchasing power since 1913) as well as the main reason for the global financial crises since 2007. <ref>[http://www.gold-action.de/campaign.html Repatriate our Gold] - Website</ref> |
==The Gold Standard== | ==The Gold Standard== | ||
Revision as of 03:50, 5 July 2017
 Gold    | |
|---|---|
 | |
| Type | chemical |
| Interest of | • Cryptogon • Dollar Vigilante • Paul Volcker • Zero Hedge |
| The 79th element. A very dense, soft, malleable and ductile metal which has been desired by many people in many cultures for its ornamental value and for trading. | |
Gold has been used as a currency for thousands of years. It has been used throughout history either as physical coinage or as solid cornerstone for stable paper currencies. Up until 1913, most Western societies prospered and grew steadily and naturally under a monetary standard with at least partial gold backing. The gradual abandonment of the gold backing throughout the 20th century and the ultimate delinkage of all currencies from gold in 1971 is the fundamental cause of the ongoing inflation (the US-Dollar has lost 98% of its purchasing power since 1913) as well as the main reason for the global financial crises since 2007. [1]
The Gold Standard
The US left the gold standard (that is, abandoned its earlier policy of maintaining a fixed exchange rate between gold and the US Dollar) on August 15, 1971. Some currencies remained pegged to gold for some years after (Swiss Franc?[citation needed]) but as of 2017, there may be no currencies backed by gold, so that they can be produced in unlimited amounts by central banks. The gold of price appears to have been subject to complex and systematic fixing by influential insiders wince 1971.[2]
Related Quotations
| Page | Quote | Author | Date |
|---|---|---|---|
| 2011 Attacks on Libya | “Gaddafi's government holds 143 tons of gold, and a similar amount in silver. This gold was intended to establish a pan-African currency based on the Libyan golden Dinar. This plan was designed to provide Francophone Africa with an alternative to the CFA."” | Ellen Brown | 14 March 2016 |
| J. P. Morgan | “... [credit] is an evidence of banking, but it [credit] is not the money itself. Money is gold, and nothing else.” | J.P. Morgan & Co. J. P. Morgan | |
| Petrodollar | “Money supply and debt have exploded in the absence of gold convertibility [...] Today's money is not backed by gold. It is now backed by nothing at all, except our trust in the monetary system.” | Smithy | 2003 |
Related Documents
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Document:Frenzy in the Gold Market: The Repatriation of Germany’s Post World War II Gold Reserves | article | 27 January 2014 | Michel Chossudovsky | An overview of Germany's decision to repatriate it's physical gold bullion holdings, currently stored in the US, UK and France - they hope. |
| Document:Gold Smoke and Mirrors | blog post | 25 March 2010 | Peter | The murky world of gold custodianship, trading and gold price suppression. |
| Document:Meeting Note Moscow Stock Exchange Forum | seminar description | 12 June 2017 | Integrity Initiative | II, probably Victor Madeira or Perry Fawcett, attended a Russian business forum in London |
| Document:The Spoils of War | article | 2002 | David Guyatt | An introduction to the murky subject of the gold plundered by the NAZI and Japanese militaries during World War II and what happened to it. |
| File:Gold-Tungsten-Genesis.pdf | report | April 2010 | Rob Kirby Financial Sense | Report on just one incident of ostensibly "Good Delivery" gold bars - 60 metric tonnes of them - stored at an asian depository, that turned out to be 95% Tungsten. Oops! |
