No one can definitively say exactly how much gold was confiscated in 1933 as no record was ever kept. However, SD Bullion has run the numbers and estimates that 2,665 tonnes was confiscated. They arrived at this figure by looking at how much gold was melted down by the government between 1933 and 1939. When […]
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The market capitilization of gold refers to the total value of all gold in circulation. At the time of writing the market cap of gold is approximately $18,098,179,964,395.2 or $18 trillion dollars. This is calculated by taking the total amount of gold in the world in tonnes, then multiplying that by the number of ounces
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Bitcoin is the best form of sound money mankind has ever known. Until very recently, gold held that title. Then in 2009 some anonymous guy called Satoshi Nakamoto wrote some code, released a white paper and changed monetary history forever. Bitcoin came into the world as digital money that was sounder, harder and superior to
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[Disclaimer: I own both physical silver and physical gold as well as silver and gold stocks. This is not investment advice and is provided for information only. This considers the economic case for silver over gold and is not a recommendation to buy either. Do your own research and consult a financial advisor.] The main
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[Disclaimer: I own physical gold, physical silver, gold stocks and silver stocks. This is not investment advice and is provided for information only. This considers the economic case for gold and is not a recommendation to buy. Do your own research and consult a financial advisor.] 2011 was the peak of a gold bull market
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The yellow metal’s early history wasn’t in gold coins but in big lumps of uncoined metal. Various forms of commodity money had been used up to that point but gold emerged as the superior option. However in its uncoined form, trade using gold as money was inefficient as merchants had to assess the weight and
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History has certainly served up some beautiful gold coins. Gold became money because it was scare, malleable, durable, portable, divisible and fungible. Beauty wasn’t one of the requirements, but nevertheless it certainly helps gold’s timeless appeal. I must admit, my bias is towards the modern coins. I love the ancient coins for their history and
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The longest lasting fiat currency in history is the Great British Pound. The pound dates back to 928, making it the oldest currency still in use, although it has only been a fully fledged fiat currency since 1971. Initially defined as a weight of silver, the pound became a fiat currency briefly in 1745 due
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Fiat currency is a type of currency that exists only by government decree. It refers to the nature of the currency being untethered to a commodity with new units being easily created at will. Legal tender is a status that a government bestows on a currency, stating that it must be accepted by merchants and
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The commodity theory of money is the view that money emerged from barter and that physical commodities that were well suited as a store of value and a medium of exchange came to function as money. This theory is asserted by the Austrian School of economics. The founder Carl B. Menger stated: “[Money] is not
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