Ruled by Physics on Nostr: What's interesting is that fiat currency has failed for both USA and UK. Pure silver ...
What's interesting is that fiat currency has failed for both USA and UK.
Pure silver pound was temporarily suspended, mixing in less precious metals, resulting in failure and inflation. I believe the UK returned to pure silver as a consequence.
I don't know how long the pure silver dollar reigned, after that I guess came a period of gold backing until pure fiat was introduced.
Florines, ducats and gulden became famous and valuable currency for their high gold content, I believe 3,5 grams of pure gold.
Pure silver pound was temporarily suspended, mixing in less precious metals, resulting in failure and inflation. I believe the UK returned to pure silver as a consequence.
I don't know how long the pure silver dollar reigned, after that I guess came a period of gold backing until pure fiat was introduced.
Florines, ducats and gulden became famous and valuable currency for their high gold content, I believe 3,5 grams of pure gold.