Thread: No gold -> No money. Back to stone age

Gold is the origin of money

All country currencies in the world have their value supported by gold (if I'm correct).

If no gold -> No money.

No money -> No oil or No dollar. Back to stone age.

I'm not 100% sure/confirmed of this statement. If somebody can confirm "no gold no money" I'll appreciate the valuable information.

Always wanted to know how the world currencies have their value

Originally Posted by talknet

Gold is the origin of money

All country currencies in the world have their value supported by gold (if I'm correct).

If no gold -> No money.

No money -> No oil or No dollar. Back to stone age.

I'm not 100% sure/confirmed of this statement. If somebody can confirm "no gold no money" I'll appreciate the valuable information.

Always wanted to know how the world currencies have their value

Agreed,

Gold was the standard in the beginning, but sadly many countries, especially U.S. moved away from the gold standard over 40 years ago, so think of the U.S. as a country without any real backing of the dollar. The Fed Reserve has been printing trillions over the last forty years and it is backed only by the illusion of stability of dollar.

Dangerous times for sure, and as we are seeing, it is catching up to the dollar as it slides in value to lowest levels ever. Gold is not used like it once was to back any currency. CAN uses oil, as do Saudi Arabia, Kuwait, Iraq and as do other oil rich countries, so although gold is still the most stable of all, it is not used as it once was.

Good luck and health to all, Mike