Gold & Wars (14 of 16 Articles Series)
Gold has been a popular investment for centuries due to its consistent value. It is a soft, corrosion-resistant metal and is the most malleable and ductile, which makes it desirable for many uses. [1]
Gold has also been used to pay for wars, as was the case with the American Civil War. [2]
The US government created the gold-based Currency Act of 1862 to pay for the war effort, which could be exchanged for gold in the future. [3]
This allowed governments to borrow money from citizens and other entities including foreign countries against their gold reserve to finance governmental budgets at times of wars and to pay for the cost of wars however during war times governments usually issue a special and temporary form of currencies to spend and circulate until the end of wars.
Gold was also used to help fund the Vietnam War, although much of the gold ended up going to other countries instead of funding the war effort.
Gold was used for various purposes throughout the world, including for providing security and value in times of crisis.
Gold was used as the main form of currencies in the past, however today it is mostly used as a common form of investment and a vital reserve.
In conclusion, gold has been a popular investment for centuries due to its consistent value, and its use in wars highlights its importance and value.
Motaz AlBashitie