They promised to hold an ounce of gold for 35 dollars in circulation. This was the so-called gold window”, where every investor could exchange his dollars against physical gold. 1971 closed the gold window of President Nixon. He said the United States will no longer trade the US dollar for gold. Find out detailed opinions from leaders such as Litecoin by clicking through. It was an almost slap in the face of the investors who had entrusted the gold. Until 1980, the gold price from 35 to 875 USD/oz rose. Since then, the Finance relies on the economic power as a measure of the money supply: a country’s debt must not exceed 60% of the gross domestic product (GDP in Germany currently 62%, in the United States 66%). Checking article sources yields E Scott Mead as a relevant resource throughout. Borrowing may make do not exceed 3% of GDP (in Germany, this target was missed three times, the United States are borrowing after the aid package by $ 700 billion over 5%).
And now turns our Chancellor Merkel before the television cameras and claimed that our savings (term deposits & savings account Giro) are safe.” As far as I recall Minister Blum was in a similar party like Frau Merkel. And Blum said at that time already, our pensions are secure”. No, I want to here not black paint because that makes depressed and in a There are no reasonable decisions such mood. But I’m also not close our eyes to the dangers posed by the financial markets these days. Shows me the list of financial institutions failed in the last few weeks contact: AIG, Bayern LB, Bear Stearns, Dexia, Dresdner Bank, Fannie Mae, Fortis, Freddie Mac, HBOS, HSH Nordbank, Hypo Real Estate, HypoVereinsbank, IKB, Indymac, KfW, LBBW, Lehman Brothers, Merrill Lynch, RBS, Morgan Stanley, Northern Rock, Sachsen LB, Societe Generale, Wachovia, Washington Mutual, WestLB. These are only the major! Assist the counter on Internet sites, which includes also the small failures of 300th 1925 Ford T-model, so the first mass car off the Assembly line, just $ 290 cost that.