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Precious Metals
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Re: 1913That was a good review of past events in the USA. Currently we are in another period of transition, the US Fed's fiat and Europe's Euro are in the final stages of collapse. And the thieves are in a panic trying to avoid their inevitable but significant losses. One alternative being proposed is the crypto currencies.......but only as long as you have electricity. People tend to prefer a more tangible item, and Gold appears to be popular as one alternative. We are also headed into a 'Depression', where values are going to change, some significantly, plus government selective confiscation is a reality. (Why are old buried Roman Gold coins found today...to avoid confiscation back then ? .... Been there, done that time ?) Then there is the question of what size will be a realistic transaction size....need to buy a loaf of bread and only have a kg of Gold, or starve? Reconsider the days when the US Constitution was formulated and it refers to 'coins'......perhaps fiat or larger Gold-Silver bars when one buys a large item, but small easily recognized 'coins' will buy one food. Here are some links to what happened in previous times , the last one is the most detailed. World Reserve Currencies last on average 100 years. The US dollar has been the reserve currency for 76 years.https://satoshichris.substack.com/p/world-reserve-currencies-last-on World Reserve Currencies: What Happened During Previous Periods of Transition? Submitted by Chris Ferreira, 11 August 2014. Tags: China, Dutch East India Company, Economic History, Fourth Turning,Napoleon, Portugal, Reserve Currency, Social Behaviour http://www.economicreason.com/usdollarcollapse/world-reserve-currencies-what-happened-during-previous-periods-of-transition/ Scroll down to a table that shows the transition of each reserve currencies (every 100 years or so) and the events that were carried out during each transition. Every transition was a period of great suffering marked by economic hardships, revolutions, and wars List of historical currencies https://en.wikipedia.org/wiki/List_of_historical_currencies Best list of currencies by country and by years ....too long to post. |
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