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S Illinois | When you say history, is any of this gold usage post Roman era? I am talking about day to day usage in transactions. Gold coinage has been around, but has fallen out of favor due to he problem of divisiblity. Even in countries that had hyperinflation, common transactions we're not made in gold. Barter would be the most likely outcome upon currency collapse , until a new currency could be established(see Brazil Real).
The daily stories of countries buying gold, are they buying new gold or just moving what they already own? The stories of India and China buying gold have a caveat due to the fact that those countries are the two highest jewelry users in the world. Can we distinguish between gold buying for currency preservation or for jewelry creation. | |
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Germany also continues to take back gold.
