Gold

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Concept.png Gold 
Goldbars.jpg
Type chemical
Interest of Cryptogon
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 Documents

TitleTypePublication dateAuthor(s)Description
Boozing with Benarticle14 January 2014'Michael Colhaze'Hilarious on-the-button satire on the US Federal Reserve and its 'custodianship' of non-US gold. The article's fictitious author - one Fritz Wilhelm Spitz, an 'undersecretary, 2nd class' of Germany's Bundesbank - blows the whistle on his mission to audit his country's gold bullion.
Frenzy in the Gold Market: The Repatriation of Germany’s Post World War II Gold Reservesarticle27 January 2014Michel ChossudovskyAn overview of Germany's decision to repatriate it's physical gold bullion holdings, currently stored in the US, UK and France - they hope.
Gold Smoke and Mirrorsblog post25 March 2010PeterThe murky world of gold custodianship, trading and gold price suppression.
 

Related Quotation

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PageQuoteAuthorDate
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 Brown14 March 2016


References

  1. Repatriate our Gold - Website
  2. http://www.washingtonsblog.com/2017/03/65820.html
Facts about "Gold"
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