What is the gold standard? How did the abolishment of this system affect the global economy?
And most importantly, why is it worth coming back to the gold standard and buying gold?
What is the gold standard?
The gold standard is a monetary system in which the unit of account is based on an established quantity of gold. This system regulates the issue of paper money not to print more than gold can support, thereby avoiding inflation.
Back to the roots: Rise & Fall of the Gold Standard
Gold was forever used as currency, but it was not until 1821 when a formal gold standard was established in Britain followed, soon after, by other countries.
At the outbreak of World War I, the first abolishment of the gold standard was imperative due to the high costs involved in the war. Gold remained part of the economic system until 1971, when U.S. President Nixon announced that the U.S. dollar could not be converted to gold.
How did the abolishment of this system affect the global economy?
Among other consequences, this decision resulted in a massive paper money printing which gave rise to inflation and, consequently, to financial crises.
But until the gold standard is restored again, here you have 3 Reasons to Buy Gold
Gold standard supporters believe we will only witness a stable monetary system when this system is re-established. Currencies go up and down constantly, while gold remains stable during good times and increases in value in extreme inflation and deflation.
“The gold standard has one tremendous virtue: the quantity of the money supply, under the gold standard, is independent of the policies of governments and political parties.”
Ludwig von Mises, economist, philosopher and historian
Global InterGold offers high quality gold bars at a very convenient price and under good conditions.
Since the abolition of the gold standard, the prices of everyday items and others, including gold, have been increasing. When previously an ounce of gold cost about $30, today we talk about hundred of dollars.
Global InterGold's clients can get gold bars sets worth 7,000 EUR by making a prepayment that suits every budget. By acquiring gold for a small fee, clients benefit from the growing price.
Buying gold allows you to decide your own standard of living. You can build a gold reserve which ensures your financial security in the long-term. Besides, you decide when to sell your gold bars, and therefore, the money you get for them.
Global InterGold's clients can buy as many gold bars as they want and build a gold reserve.
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