Printing money was not a good idea in the past - better to bet on gold
(PresseBox) - What unrestrained money printing can cause was first seen in the USA in 1819.
The first prolonged and widespread financial crisis in the United States led to a general collapse of the American economy. This continued until 1821. The Panic of 1819 was subsequently the transition from colonial trading status to an independent economy. The market situation after the Napoleonic Wars combined with the enormous issue of paper money.
The Second Bank of the United States was involved in inflationary practices. To avoid the impending dilemma, this bank severely restricted lending. State banks did not issue gold coins from their reserves. There was too much paper money and too little gold. Farms and commercial properties were burdened with high mortgages and the state banks started foreclosures. The result was a financial panic, bankruptcies and mass unemployment. Many Americans no longer believed that central bankers and politicians wanted to fight inflation. The amount of paper money increased enormously, and banknotes quickly lost value.
The banks had therefore granted loans without regard to the available gold reserves. The problem of paper money still exists today. Since the financial crisis of 2008, the Fed has created almost nine trillion US dollars out of thin air through quantitative easing alone. The politician Thomas Jefferson, who was responsible for writing the Declaration of Independence in 1776, warned against this development at the time. Even today, gold is the real money, and investors should remember this and perhaps take a look at the stocks of gold companies.
Chesapeake Gold - https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ - has gold and silver at its prospective Metates project in Durango, Mexico. This is an enormous undeveloped project.
Osisko Development - https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ - has its sights set on previously producing gold projects in the USA, Canada and Mexico. The company aims to become a medium-sized gold producer.
Current company information and press releases from Osisko Development (- https://www.resource-capital.ch/en/companies/osisko-development-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 12.09.2024 - 06:52 Uhr
Sprache: Deutsch
News-ID 711396
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