The place that caused all the confusion beginning in 1936, in 1971. Bettmann Archive Recently the value of all gold in the world has risen to about $25 trillion. Not so long ago—under the Federal Reserve chairmanship of Janet Yellen, even—this stash carried a value only three-eighths as much. Total world gold was worth less…
The gold standard is a profile in power. So LBJ conspired to get rid of it. (Photo by UPI/Bettmann Archive/Getty Images) Getty Images The gold standard did not prevent the hyperinflation of the 1970s, or the slowdown in growth the American economy in the 2000s. The gold standard ended in 1971—what can it mean that…
The impact of President Trump’s trade war with the world is easy to illustrate — and might even put a smile on his face. Getty Images President Trump might not be offended to be called “a bull in a china shop” when it comes to international trade. In fact, it might even bring a smile…
Artistic coins died here. The gold repository at Fort Knox, (Photo by Underwood Archives/Getty Images) Getty Images In 1936, the United States Bullion Depository at Fort Knox, Kentucky, opened. Opened—not the mot juste. The federal government piled gold bars upon gold bars into this huge brand-new vault deep in the ground. An army base (Fort…
The value of U.S. gold imports from Switzerland soared in the first three months of 2025 amid uncertainly in the global economy — and so did gold prices. That led to a large U.S deficit with Switzerland until the second quarter, when imports tumbled and the United States recorded three consecutive supluses. AFP via Getty…