There is one teensy little problem with the gold standard — while numerous gold mines operate around the world, their output is barely enough to keep up with the worldwide demand for jewellery. Add in gold’s usage in electronics, satellite shielding, and other little known but essential industrial processes, and there just isn’t enough left over to back up the world’s largest economic system.
There is one teensy little problem with the gold standard — while numerous gold mines operate around the world, their output is barely enough to keep up with the worldwide demand for jewellery. Add in gold’s usage in electronics, satellite shielding, and other little known but essential industrial processes, and there just isn’t enough left over to back up the world’s largest economic system.