The Gold Standard

What’s up my crazy Steemit family! I wanna give you some cold hard facts about gold ... golden nuggets if you like 😁

Can’t be bothered to read ?ok just go and Stack Gold 🚀

🌍 Gold price fluctuates daily, yes this is true But some top economists believe that gold’s value actually stays constant while other currencies fluctuate around it.

🙅‍♂️Regardless of your views...there are many truths about gold that don’t change. Here are some “no nonsense” facts for your education and inspiration.

💰 The value of gold has been used as the standard for many currencies. After WWII, the United States created the Bretton Woods System, which set the value of the U.S. dollar to 1/35th of a troy ounce (888.671 mg) of gold. This system was abandoned in 1971 when there was no longer enough gold to cover all the paper money in circulation.

🏦 The world’s largest stockpile of gold can be found five stories underground inside the Federal Reserve Bank of New York’s vault and it holds 25% of the world’s gold reserve (540,000 gold bars). While it contains more gold than Fort Knox, most of it belongs to foreign governments.

💵 The gold standard has been replaced by most governments by the fiat (Latin for “let it be done”) standard. Both Thomas Jefferson and Andrew Jackson strongly opposed fiat currency. Several contemporary economists argue that fiat currency increases the rate of boom-bust cycles and causes inflation.

So ... you wanna start stacking some gold ?

Check this out :
http://Stack.Gold
( I know! Cool site name 😎 )