Loading ...After 1913 they started an unusual trend, or experiment, of gradually phasing out Gold/Silver backing. The situation resulted in many accomplishments, ahead of their natural time.
Increased artificial money supply enabled WW I, WW II, Bolder dam, Mt Rushmore, the national highway system, Korean War, Vietnam war, GPS system, Moon landings, welfare public and corporate, the Space Shuttle, cell phones etc etc. Increased Cars TVs and higher living standards in most nations.
Now that most countries are “topped off” most have gold supplies, and the USA went bankrupt in the summer of 2008, the old 1913 system ran its course, and ended that year. So lets not be surprised if one by one these various countries start backing currencies with Gold and get back to basics.