Gold, psychology, and society - Deepstash
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Gold, psychology, and society

If the modern paper-money economy were to collapse, we would fall back to gold.

  • People need to find ways of working together, which leads us to find ways of exchanging goods and services.
  • Gold is the logical choice of this exchange as it is one of the only substances on earth will the right qualities for the job.
  • If society agrees to turn gold into coins into a system of exchange, then gold coins would instantly assume value.

That means that gold will always have value in difficult and in good times.

61

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Gold as a method of exchange

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.

  • Metals like iron, lead, copper, and aluminium are prone to corrode over time.
  • The "noble...

59

421 reads

The value of gold

The value of gold

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.

  • Mo...

62

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"Money doesn't buy class." ~ Kiana Tom

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Gold as a method of exchange

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.

  • Metals like iron, lead, copper, and aluminium are prone to corrode over time.
  • The "noble...

The value of gold

The value of gold

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.

  • Mo...

End of the Gold Standard - March 3, 1933 - August 15, 1971

End of the Gold Standard - March 3, 1933 - August 15, 1971

On March 3rd 1933, President Franklin D. Roosevelt closed all the banks in the U.S.A.Β 

Banks held large amounts of Gold which were backing all the available U.S dollars. At those times there was a fixed exchange rate between U.S dollars and Gold.

Gold standard ended officially when pr...

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