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Gold is highly debated in the economic world right http://now.So I was wondering what is good about switching to paper money.And these important and notable facts are the ones I came up with.
Gold was stoped being used as currency in 1973 in the US.
Gold was stoped being used as currency in 1973 in the US.
But before they stopped using gold its value http://TANKED.In 1970 if you were to go out and buy gold then you could buy gold for just $34/ounce,since then gold price has gone up 5300% which is 54 times its value in 1970.
Why did prices go down so much in value
They went down because people had so much use for it that there become a lot of need for it.And when something becomes common and overused then it decreases in value.Thats why when contras overprint money then then value decreases.
They went down because people had so much use for it that there become a lot of need for it.And when something becomes common and overused then it decreases in value.Thats why when contras overprint money then then value decreases.
Example:when Venus vale printed sooo much money that their inflammation went to 1,698,488% in 2018.
So it is good that we switched to pepper money because the value of gold went down to the lowest it had ever been, and it kept depreciating.
So it is good that we switched to pepper money because the value of gold went down to the lowest it had ever been, and it kept depreciating.
Still relying on gold would have another bad thing.The biggest gold extracting country’s in the world are China Australia and Russia.Though US also had a lot of gold extracting it can’t only get gold from itself so it would have to depend also on other country’s to get gold.
This is bad because then the other contras can tax US heavily.
Money printing
When there is a crisis and company’s are loosing a ton of money then the FED comes in and helps them by providing the companies with money.
Money printing
When there is a crisis and company’s are loosing a ton of money then the FED comes in and helps them by providing the companies with money.
They do that by printing the money and giving them http://that.Now yes that does have the value depreciate but they make up for that by notprinting as much money and bring the currency at the same value as it used to be.But with gold they can’t do that.
Fun facts about gold:
Why gold went up in 1980
Gold was at 850/ounce.GOLD went up because OIL had strong prices and because people started buying gold for their http://portfolios.Now you may wonder why do gold prices go up if oil prices go up.
Why gold went up in 1980
Gold was at 850/ounce.GOLD went up because OIL had strong prices and because people started buying gold for their http://portfolios.Now you may wonder why do gold prices go up if oil prices go up.
This is because crude oil is primarily traded in U.S dollars. Since oil is used in the process of excavating and it is also used in the refining the gold process, if oil prices go up then gold prices also go up.
