World by chartsI have imported silver prices from Kitco. The numbers may contain errors but overall, they should be roughly right. There are two series: a yearly series from 1792, and a daily series from 1984 onwards.
There are several points in history which may be interesting to look at.
- 1785, US adopts a silver standard.
- 1803, Jefferson buys Louisiana.
- 1821, Britain adopts the gold standard.
- 1848, the gold rush begins in California.
- 1861, civial war following the 1857 banking crisis.
- 1870, major silver mines are found in CA, NV, etc.
- 1873, the US adopts the gold standard (the crime of 73), leaving China alone on the silver standard.
- 1929, the Great Depression begins.
- 1935, China goes off the silver standard following the act of 1934. Hyperinflation follows the civil war.
- 1979, the Hunt brothers corner the market and get a margin call. Volcker is sworn in and reins inflation by raising interest rates to the roof.
- Feb 1, 2006, Ben Bernanke is sworn when the silver price is at $9.77 per oz and gold at $567 per oz.
I found a chart on the web from year 1344 to 2004, which I am including here. I don’t know who is the author of this wonderful chart.
Links:
Books:
A Monetary History of the United States, 1867-1960
This Time is Different: Eight Centuries of Financial Folly
The Great Wave: Price Revolutions and the Rhythm of History
Series of interest:
Historical silver price since 1792
Gold per silver, recent daily series
Gold per silver, annually since 1792
I had a family member that worked as a senior member of the IMF. (International Monetary Fund). They only accept payment from member countries in GOLD. They do not accept payment in local currencies. They only exchange gold for local currencies in order to fend off a local banking crisis. You can google this. The big banking boys know what real wealth preservation is. They setup their own safeguards to include a gold reserve, not a paper reserve. China, India and the US are huge gold holders. They don’t liquidate Fort Knox to pay federal debt, they just whip up a new batch of paper.
I think Greenspan is getting senile, today he said that you can stop asset bubbles by increasing capital requirements. That just increases the cost of credit. The next time you have a real estate bubble, you’ll have the same problem, assuming that banks are still in the business of loaning against real estate. If you want to stop this problem, then eliminate the federal subsidies for real estate development and investment, then require people in that industry to put their own money at risk instead of someone elses. If Greenspan really wants to change the banking system, though, then simply ban 95% and 90% LTV loans. Require a bigger equity cushion. BTW, the “too big to fail” argument is a fallacious one. During the Great Depression, Canada had no bank failures. The reason was that their banks were very large. The banks closed branches, etc., but none of them failed. By contrast, the US was dominated by thousands of very small banks, and we had more than 10,000 of them fail. So there is nothing inherently unsafe about a banking system dominated by large banks. The real problem with large banks is that during good times, they don’t provide enough competition for each other.
I like the style you took with this subject. It isn’t every day that you just find a subject so concise and informative.
Wow, excellent post! I am intrigued.
hi smart little web page you got right here
I operate the identical web theme on mine although for whatever issue it seems to load swifter on this web site eventhough yours includes a little more content. Have you been making use of any kind of plugins or widgets that quicken it up? Do you think you might be able to reveal the titles so that I could use these on my own webpage so twilight breaking dawn followers could watch twilight eclipse online trailers and videos more rapidly I would be pleased – regards ahead of time 
wow.. i’m very
enjoy reading your post. great.
great information you write it very clean. I’m very lucky to get
this details from you.
Download Internet Explorer 8
Hello,nice post,thanks for your share! and I get confused if i can quote this article in my site in case I place a link back to yours? Waiting for your answer!
Hey mate, greetings from Iceland !
Thanks a ton for this, I appreciate the info
Quite awesome material that you’ve worked on the following. I acknowledge with you on any angle, gratitude once more for making the blog post!!|It’s good that you put up these types of excellent written content on the internet. Gratitude so a good deal.
This is an informative post, thanks a lot!
Nicley written!
Keep up all the great work..and where do I subscribe to your RSS ?
Hi admin ! thank for your info to posted right here.
Hi there, awesome site. I thought the topics you posted on were very interesting. I tried to add your RSS to my feed reader and it a few. take a look at it, hopefully I can add you and follow.
Great blog post.Really looking forward to read more.