Some people think that gold has no intrinsic value and that gold's only worth is as a material to make jewellery. Others assert that gold is an asset with various intrinsic qualities that make it unique for investors to gather in their portfolios.
MORE IDEAS FROM Why Has Gold Always Been Valuable?
If the modern paper-money economy were to collapse, we would fall back to gold.
That means that gold will always have value in difficult and in good times.
In the old days, a coin of some metal was easier to exchange than to implement a barter system. Of all the metals, gold was the logical choice.
Contagion, in financial terms, refers to the diffusion of economic booms, and can occur both domestically and globally. It is basically a spread of an economic crisis from one region to another, and spreads on an international level due to the global market interdependence.
The term contagion was coined during the 1997 Asian financial crisis, but it was occurring namelessly even during the Great Depression in the 1930s.
Marginal benefit and marginal cost are two measures of how the cost or value of a product changes.
A financial crisis is often associated with a panic or a bank run where investors sell off assets or withdraw money from savings accounts.
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