In order to deal with the fact that monetary mystification has reached phenomenal volumes over the past few decades, it is necessary to pay attention to one of the materials, which for a sufficiently long period of time was considered a direct equivalent of money, but over time lost its original position. This material is gold. At least, that gold has lost its priority positions in the economy, giving way to such "substitutes" of monetary expression as human labor, the pace and volume of production, energy, etc., states a certain circle of people representing the interests of the so-called American-British economic elite.
So, the gold equivalent at different times seemed to be one or another state (national) currency, which was used in the most financially progressive country in the world (according to the version of, say, an elite club of countries that consider and consider their economic systems to be the most progressive).
Since one of the main functions of money is a measure of the value of goods, then we will use data from stories economy in order to compare the world gold prices at different times of human civilization. As the unit of mass of the precious metal, the so-called troy ounce is usually used, which is equal to the value in 31,1034768 gram. We will not deviate from generally accepted norms, and we will also use a troy ounce as a base unit for comparing the value of gold and the financial weight of a particular currency.
According to historical sources, the price of the "solar" metal, changed at a very strange pace. If we talk about the time when gold is compared with the value of the base world currencies, the second decade of the 19 century is distinguished. In 1812, the troy ounce (TU) cost about £ 10 pounds. It makes no sense to try to transfer this amount to the current Russian rubles or to US dollars, because this, based on the data that will be presented a little lower, is simply meaningless. The British pound as the base (“reserve”) world currency was used until the end of the Second World War. At the same time, at the start of 5,48, the gold troy ounce cost around 1946 pounds. In other words, in more than 8,4 years, gold has risen in price only 130 times. Why "just"? Because the data of the next time period in terms of changes in world gold prices seem simply stunning in comparison with those already announced.
By the way, when the price component of a product changes upwards, we say “the product becomes more expensive”. In fact, for the current system, when goods and money can be easily converted, instead of the phrase “product (goods) becomes more expensive”, you can quite reasonably use the phrase “currency is getting cheaper”. This phrase will be completely devoid of meaning. And all the more not deprived, if we are talking about such a product as gold, which by its characteristics for a long time and expressed the value of the money itself. It turns out that we can talk about the cheapening of the British pound sterling over 130 in about 1,5 times, if we take the price of gold as the starting economic point.
Since the end of the forties of the 20 century in the world there is an obvious change of economic leaders, and since then the British pound has given way to the main world currency, the US dollar. And if another currency took the place, then the value of gold was also measured in it. So, in 1950, the cost of one troy ounce of this precious metal was $ 34,71. The price for almost 20 years, if it has changed, is extremely insignificant. But then something happened that just the same can be called a big financial hoax. The world economic center, which represented the United States of America, suddenly decided that it was time to use gold not only as a type of expression of the value of world currencies, but also as a tool for a big financial game. This financial game manifested itself vividly in the middle of the 70s, when gold suddenly, quite unexpectedly, in three years went up almost 4 times. The cost of a troy ounce in 1970 was estimated as $ 35,94, and in 1974, this value reached its historical maximum at that time and was already 160 dollars.
When economists from Europe tried to figure out, and on the basis of what objective changes such an impressive increase in gold prices occurred, the most incredible assumptions came from the United States as an explanation. They say that the price of gold went up from a mixture of political and economic reasons: from the end of the Vietnam War to changes in the hydrocarbon market, industrial changes in certain regions of the world, and so on. However, the industrial shifts along with the wars the world experienced before, but for more than a half century, the price of gold has changed at a much less impressive pace.
It turns out that all the proposed reasons for the increase in the price of gold are a great transatlantic fiction. In fact, in the United States, a system was launched that continues to operate to this day. This system is associated with a hidden devaluation of the main reserve currency. Why do we need this hidden devaluation? Yes, at least for the same, for which modern China is persistently undervaluing the yuan - to increase the competitiveness of their products on the world market. Only if China plays relatively openly, then the United States continues to play Vanka, arguing that the rise in gold prices is an objective global trend that manifests itself without artificial mechanisms. In fact, the mechanisms were and still are.
The fivefold rise in gold prices around 40 years ago (and actually fivefold artificial depreciation of the dollar) led to the fact that the American manufacturing industry, after the enormous costs of the Vietnam War, not only didn’t crumble, but on the contrary turned out to be ahead of the entire planet. . From this point on, the entire world economy is firmly bogged down in a dollar swamp, which has grown and expanded thanks to the unique technology of manipulating the price of gold. In fact, at a certain stage, the United States was able to turn any kind of foreign currency or gold as such at any convenient time.
At the same time, a paradox was born: on the one hand, the United States told the whole world that gold was becoming a very expensive monetary equivalent, but on the other hand, they said that gold was giving way to economic influence to other, let's say, substances: the very productivity and efficiency of its use . This paradox underlies the fact that so far the world has not reached the generally accepted gold standard, at least in the form of a framework agreement between the basic economies. It is obvious that the adoption of the gold standard as the basis for dancing from the economic stove is unprofitable for the American side. The fact is that the availability of a standard will no longer allow one to deal with the price of gold as with a balloon, then puffing up to a critical volume, then unexpectedly releasing the economic “air” and forcing the world economy to ride a roller coaster. Financial stability will appear. Well, does this stability need major world players? .. Of course not. They need serious fluctuations in prices and rates so that there is a possibility of enrichment without any major investments.
We stopped in the mid-seventies, when the cost of an ounce of gold was $ 160. Already after 5 years (by 1980) gold “jumped” to the mark in 620 dollars for TU. And the biggest increase during this period occurred in 1979-1980, when the price increased 2 times. Further, for almost 25 years, the price kept within 290-450 dollars per troy ounce. It is surprising that even the collapse of the USSR, which can be called a grand political and economic cataclysm of the second half of the 20 century, practically did not affect the price of the gold unit. This once again proves that the mechanisms of price change do not lie in the area of objective prerequisites, but represent the work of the artificial levers of the Western economy.
A new breakthrough in the price of gold manifested itself in the years of the economic crisis and continues to be revealed today. If in 2004, the troy ounce cost about 410 dollars, in 2010, it passed for the first time for 1000 "green". Yes, as passed! I jumped right up to 1225 dollars. Today, the cost of the same troy ounce of gold is already almost 1690 US dollars.
In other words, the Western economic model with its own hands did not raise the price of gold to transcendental boundaries, but took part in the hidden large-scale depreciation of the main world currency, to which all other currencies of the world are tied to one degree or another. If we compare the price of gold at the end of 40's and today, it turns out that the dollar sank (or its artificially “sunk”) as many times as 48! It turns out that in reality, the US economy, which is based on the dollar, is ten times weaker than they are trying to present it to us. However, a paradox also manifests itself here: at the expense of artificial mechanisms, the American economy “pumps” its dollars into the economies of other countries, thereby, in reality, “infecting” the world economy with unsupported gray-green paper. The big modern hoax lies in this, when due to the spread of the dollar, which 40 has actually no longer been able to really express the value of world money, the bubble of the American financial system is being blown up.
In this regard, economist Sergei Glazyev, who sent a note to the Kremlin, is right in saying that the emission of major world currencies may lead to the absorption of Russian assets by foreign capital. For this, in one far from perfect moment for Russia, the same United States will be quite deft enough to drop the price of gold or, for example, oil. And although the world is called economically multipolar, but by and large one pole is still too prevalent, playing with their marked cards.
It is obvious that the great game of Americans has long been noticed in different countries of the world. But it is extremely difficult for many states (including, unfortunately, including) to get out of this game. So far, our top officials in the economy have to pretend that the dollar is a powerful world currency, which has a real base. It is necessary to pretend, since even our gold and foreign exchange reserves do not allow us to express ourselves in a more substantive way. In 2012, the US dollar accounts for, no less than, 46,5% of the total domestic reserve. About another 40,5% is stored in euros, which is in harness with the US currency. In other words, Russia continues to keep money as those eggs are actually in one basket, and even such a basket, which unexpectedly for the Russian Central Bank either adds to the volume, then squeezes heavily, crushing the accumulation mercilessly. For obvious reasons, Moscow cannot openly declare this at a political level, for some reason believing that the US dollar is a panacea for our financial system. China, for example, was disappointed in the dollar as a panacea long ago ...
In general, the change in the price of gold (and in fact the change in the price of the dollar) ideally reveals the maps of the modern economic model. Can a model based solely on bluffing hold on for a long time? - The question is obviously rhetorical ...