@Cakes said:
When did metals first start getting traded in paper?
With gold futures contracts, in 1974 when the ban on gold ownership was lifted. Earlier in 1971 the dollar was no longer backed by gold because foreign countries were draining the US gold supply.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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When did metals first start getting traded in paper?
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
With gold futures contracts, in 1974 when the ban on gold ownership was lifted. Earlier in 1971 the dollar was no longer backed by gold because foreign countries were draining the US gold supply.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
No shortage of unhappy campers on this forum. Hahaha
Knowledge is the enemy of fear