Why is gold money? Why do central banks always deny gold is not money but they accumulate gold every year and build solid vaults against atomic bombs to protect gold? The nature of money is only paper, it has no intrinsic value. Gold is a non-oxidized chemical element, a popular jewelry for thousands of years. Cryptocurrencies (virtual currencies) are only stored in chips and can be lost anytime if hackers from Russia or North Korea wipe them out. Gold is the money, the collapse of the dollar is inevitable, the US, Europe and the IMF, forming a system of underground gold standard. In fact, using gold as money is not only in ancient times. but reality today. Recently, BBC International Service Jusstin Rowlatt conducted an interview with Andrea Sella, Professor Sella presented insights on the periodic table of chemical elements to explain why gold, one of the original structure This is the best way to evaluate the underground gold standard among countries, using the ratio of gold to GDP. Gold / GDP Ratio.The winner - the 19 countries that make up Europe and issue the Euro. Their golden ratio to GDP is over 4%. The rate of the United States is 1.7%. Interestingly, the rate of Russia is about 2.7%.
Russia only has more than one-eighth of America's gold, but its economy is only one-eighth of the US economy, so its ratio is higher. TheIMF has a voting mechanism that requires 85% of the votes to pass any significant change. The US has 16% of the voting rights, that is, if all the countries vote. vote again also has no veto of the United States. There are only about 35,000 tons of official gold in the world.With the irony of policymakers and economists, gold will still be a great store of value and continue to play a part. In the global monetary system, this year the price of gold will reach an all-time high of $ 1920 / 1ounce.
Russia only has more than one-eighth of America's gold, but its economy is only one-eighth of the US economy, so its ratio is higher. TheIMF has a voting mechanism that requires 85% of the votes to pass any significant change. The US has 16% of the voting rights, that is, if all the countries vote. vote again also has no veto of the United States. There are only about 35,000 tons of official gold in the world.With the irony of policymakers and economists, gold will still be a great store of value and continue to play a part. In the global monetary system, this year the price of gold will reach an all-time high of $ 1920 / 1ounce.
Comment:
With the monthly start, gold has now also reached a new all-time high overnight of $1,990/oz
