Money, Gold, and History

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Flaws of the Global Financial System

Because of this fact there is plenty of enough demand for honest bullion businessmen to flourish and prosper alongside their hard saving customer bases. Human beings have coveted silver and gold consistently for more than years. Gold treasures have been found dating back to as early as BC in a burial site in Varna, Bulgaria from the ancient Thracian civilization.

By BC, Egyptian goldsmiths began melting gold ores to separate the metals inside. They used blowpipes made from fire-resistant clay to heat the smelting furnace. As early as BC we have evidence of a gold-to-silver value ratio in the code of Menes, the founder of the first Egyptian dynasty.

The Spanish and Incas had very little in common. Diverse old native Indian cultures spoke entirely different languages than European Spaniards, they worshipped entirely different gods, and they lived very different lives day to day.

A Short Timeline of the World’s History of Gold as a Currency

Source: Lydian Coin Images. Gold and silver became de facto money around BC when they were struck in Lydian coins as stores of value used for trade.

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For over years, silver and gold monies have proven themselves as the ultimate monies. This was the date when former U. President Richard Nixon cut the last ties between gold and the U.

Paper Currency

Federal Reserve note mistakenly called U. Today all physical and digital government issued currencies are fiat, their creation conjured by a computer and printing presses. The reserve currency status that the Federal Reserve note U.

Just as the reserve currency status did not last for Britain, France, the Netherlands, Spain, and Portugal respectively looking back over years of time. A study of fiat currencies produced by DollarDaze. The study found the average life expectancy for a fiat currency is 27 years, with the shortest life span being one month.

The British pound Sterling, founded in , is the oldest fiat currency in existence. In other words, the most successful long-standing currency in existence has lost So it is historic fact that fiat currencies only last a handful of decades typically while they eventually all end worthless. The same cannot be said for silver or gold monies. Physical silver, well not so much, but more on dwindling silver supply facts later.

Why the Dollar Was Backed By Gold

These repeat lessons are for the first time in human history unfolding simultaneously on a global scale. I suggest we buckle up and prepare for interesting and possibly chaotic times ahead. Subscribe to the JM Bullion newsletter to receive timely market updates and information on product sales and giveaways. Edit Cart.

The Gold Standard

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The History of Silver & Gold

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Money, Gold, and History Money, Gold, and History
Money, Gold, and History Money, Gold, and History
Money, Gold, and History Money, Gold, and History
Money, Gold, and History Money, Gold, and History
Money, Gold, and History Money, Gold, and History
Money, Gold, and History Money, Gold, and History

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