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Gold Money Foundation

Explore the significance of gold as money, an asset class, and protection against hyperinflation. Learn about gold's unique qualities and its role in preserving wealth. Discover its historical stability and value in an ever-changing financial landscape.

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Gold Money Foundation

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  1. GoldMoney Foundation

  2. Title Slide Box Title & Headline Title & Headline GoldMoney Money, Gold and Hyperinflation James Turk 1 March 2011 The Phantom of Hyperinflation Conference Belgium Document slug: date/pp #

  3. Title Slide Box Title & Headline Title & Headline One of the best performing asset classes GoldMoney

  4. Title Slide Box Title & Headline Title & Headline Gold is money GoldMoney Crude Oil Prices (Base of 100) January 1950 through December 2010 8000 British pound 6000 4000 2000 0 50 55 60 65 70 75 80 85 90 95 00 05 10

  5. Title Slide Box Title & Headline Title & Headline Gold is money GoldMoney Crude Oil Prices (Base of 100) January 1950 through December 2010 8000 British pound 6000 US dollar 4000 2000 0 50 55 60 65 70 75 80 85 90 95 00 05 10

  6. Title Slide Box Title & Headline Title & Headline Gold is money GoldMoney Crude Oil Prices (Base of 100) January 1950 through December 2010 8000 British pound 6000 US dollar 4000 euro 2000 0 50 55 60 65 70 75 80 85 90 95 00 05 10

  7. Title Slide Box Title & Headline Title & Headline Gold is money GoldMoney Crude Oil Prices (Base of 100) January 1950 through December 2010 8000 British pound 6000 US dollar 4000 euro goldgram 2000 0 50 55 60 65 70 75 80 85 90 95 00 05 10

  8. Title Slide Box Title & Headline Title & Headline Portfolio composition GoldMoney 100% INVESTMENTS 50% LIQUIDITY 0

  9. Title Slide Box Title & Headline Title & Headline Portfolio composition GoldMoney 100% INVESTMENTS (wealth producing assets) 50% LIQUIDITY 0

  10. Title Slide Box Title & Headline Title & Headline Portfolio composition GoldMoney 100% INVESTMENTS (wealth producing assets) 50% LIQUIDITY (wealth preserving assets) 0

  11. Title Slide Box Title & Headline Title & Headline Portfolio composition GoldMoney 100% - Risk / Reward - INVESTMENTS (wealth producing assets) 50% LIQUIDITY (wealth preserving assets) 0

  12. Title Slide Box Title & Headline Title & Headline Portfolio composition GoldMoney 100% - Risk / Reward - INVESTMENTS (wealth producing assets) 50% - Safety - LIQUIDITY (wealth preserving assets) 0

  13. Title Slide Box Title & Headline Title & Headline Portfolio measurement GoldMoney 100% - Risk / Reward - INVESTMENTS (wealth producing assets) Units of 50% Wealth - Safety - LIQUIDITY (wealth preserving assets) 0

  14. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different Document slug: date/pp #

  15. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed Document slug: date/pp #

  16. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production Document slug: date/pp #

  17. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production • value derives from usefulness Document slug: date/pp #

  18. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production • value derives from usefulness • food Document slug: date/pp #

  19. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production • value derives from usefulness • food • shelter Document slug: date/pp #

  20. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production • value derives from usefulness • food • shelter • communication (interaction in society) Document slug: date/pp #

  21. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Gold is special because it is different • accumulated (saved); not consumed • large aboveground stock relative to annual production • value derives from usefulness • food • shelter • communication (interaction in society) • Gold is special because it is money Document slug: date/pp #

  22. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Money is a mental tool that enables economic calculation Document slug: date/pp #

  23. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Money is a mental tool that enables economic calculation • unchanged throughout history Document slug: date/pp #

  24. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Money is a mental tool that enables economic calculation • unchanged throughout history • Currency is a medium of exchange Document slug: date/pp #

  25. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Money is a mental tool that enables economic calculation • unchanged throughout history • Currency is a medium of exchange • improves as a result of technological innovations Document slug: date/pp #

  26. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 Document slug: date/pp #

  27. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 • ‘invention’ of paper currency Document slug: date/pp #

  28. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 • ‘invention’ of paper currency • banknotes circulated current in place of gold/silver coins safely stored in vault Document slug: date/pp #

  29. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 • ‘invention’ of paper currency • banknotes circulated current in place of gold/silver coins safely stored in vault • currency changes from a tangible asset to a bank liability Document slug: date/pp #

  30. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 • ‘invention’ of paper currency • banknotes circulated current in place of gold/silver coins safely stored in vault • currency changes from a tangible asset to a bank liability • creation of payment risk a/k/a “Herstatt risk” Document slug: date/pp #

  31. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Bank of England established, 1694 • ‘invention’ of paper currency • banknotes circulated current in place of gold/silver coins safely stored in vault • currency changes from a tangible asset to a bank liability • creation of payment risk a/k/a “Herstatt risk” • first bank crisis in 1696 Document slug: date/pp #

  32. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 Document slug: date/pp #

  33. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 • defined one British pound as an unchanging weight of gold Document slug: date/pp #

  34. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 • defined one British pound as an unchanging weight of gold • pound banknote redeemable into gold on demand Document slug: date/pp #

  35. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 • defined one British pound as an unchanging weight of gold • pound banknote redeemable into gold on demand • Bank of England responsible for ensuring redeemability Document slug: date/pp #

  36. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 • defined one British pound as an unchanging weight of gold • pound banknote redeemable into gold on demand • Bank of England responsible for ensuring redeemability • voluntary rules ensure system’s automaticity Document slug: date/pp #

  37. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Newton’s Gold Standard, 1700-1914 • defined one British pound as an unchanging weight of gold • pound banknote redeemable into gold on demand • Bank of England responsible for ensuring redeemability • voluntary rules ensure system’s automaticity • gold is backbone of British empire Document slug: date/pp #

  38. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 Document slug: date/pp #

  39. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes Document slug: date/pp #

  40. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes • unintended consequence is the development of deposit currency Document slug: date/pp #

  41. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes • unintended consequence is the development of deposit currency • payment risk escalates Document slug: date/pp #

  42. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes • unintended consequence is the development of deposit currency • payment risk escalates • new British banking model eventually adopted worldwide Document slug: date/pp #

  43. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes • unintended consequence is the development of deposit currency • payment risk escalates • new British banking model eventually adopted worldwide • seed for “too big too fail” Document slug: date/pp #

  44. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Peel’s Bank Act, 1844 • limits quantity of pound banknotes • unintended consequence is the development of deposit currency • payment risk escalates • new British banking model eventually adopted worldwide • seed for “too big too fail” • 2 functions within one bank Document slug: date/pp #

  45. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution begins Document slug: date/pp #

  46. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution begins • “The gold standard is already a barbarous relic.” J.M. Keynes, 1923 Document slug: date/pp #

  47. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution begins • “The gold standard is already a barbarous relic.” J.M. Keynes, 1923 • governments chafe at the discipline imposed by the gold standard Document slug: date/pp #

  48. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution begins • “The gold standard is already a barbarous relic.” J.M. Keynes, 1923 • governments chafe at the discipline imposed by the gold standard • governments claim that currency managed by central banks can eliminate the boom/bust cycle Document slug: date/pp #

  49. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution succeeds Document slug: date/pp #

  50. Title Slide Box Title & Headline Title & Headline Gold, money & currency GoldMoney • Keynesian revolution succeeds • ‘Gold Standard’ finally disappears 1971 Document slug: date/pp #

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