The forex news in December showed a drop in the overall increase of 9.1% which has benefited the U.S. dollar in 2008 has boosted the value of gold, although it remains down 1 , 4% on the year. The analyst Commodity Archerfinancial services, Stephen Platt, tells Bloomberg that "the dollar seems to be facing enormous pressure and with the uncertainty that remains regarding the economic outlook, this has contributed to the stimulation of gold. The latter was much better maintained than any active monetary prospects uncertain.Yet, the history of gold in the u.s. is unstable. Last time we explained the origin of the gold standard and its adoption by the United States. Now we'll move to the transition between the gold and currency to finally finish on the forex trading online as we know it today. Following the acceptance of the Gold Standard Act in 1900, some major events eventually led to its abandonment.
1. First World War - The Great War led to significant disruptions and political conditions that have weighed on government finances
caused him to the gold standard in oblivion for all these years of war.
It is obvious that gold was not flexible enough to help the global economy both in time of prosperity during the difficult times. The smaller countries then turned to the values represented by the USD and the GBP rather than gold.
2. The Great Depression While the stock market collapsed, many countries are increasing their interest rates to discourage investors to convert their deposits in gold, but these high interest rates that will further cripple the economy, leading the Great Britain to suspend the gold standard in 1931. At this stage, it remains to France and the U.S. gold reserves significant.
3. In 1933, Franklin Delano Roosevelt banned the ownership of gold (except for the jewelry industry.)
4. The United States re-evaluate the gold and put the $ 20.76 an ounce (a little less than thirty grams) at $ 35 an ounce in 1934, prompting the increase in conversion of gold into dollars Americans in other countries.
1. First World War - The Great War led to significant disruptions and political conditions that have weighed on government finances
caused him to the gold standard in oblivion for all these years of war.
It is obvious that gold was not flexible enough to help the global economy both in time of prosperity during the difficult times. The smaller countries then turned to the values represented by the USD and the GBP rather than gold.2. The Great Depression While the stock market collapsed, many countries are increasing their interest rates to discourage investors to convert their deposits in gold, but these high interest rates that will further cripple the economy, leading the Great Britain to suspend the gold standard in 1931. At this stage, it remains to France and the U.S. gold reserves significant.
3. In 1933, Franklin Delano Roosevelt banned the ownership of gold (except for the jewelry industry.)
4. The United States re-evaluate the gold and put the $ 20.76 an ounce (a little less than thirty grams) at $ 35 an ounce in 1934, prompting the increase in conversion of gold into dollars Americans in other countries.
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