I reviewed the history of gold and silver money in my book Gold: The Final Standard (2017). In neighboring Egypt, the primary producer of gold in the Ancient period, gold was the preferred high-value money. As early as 2700 BC, Egypt produced a standardized “ring” money of gold, stamped with an indication of weight. The history of money since that time is basically one long tale of gold and silver, leading up to the Classical Gold Standard of the pre-1914 era, and then the Bretton Woods gold standard beginning in 1944, and ending in 1971. The last decade of the global gold standard system, the 1960s, is still regarded as the best decade for global economic prosperity since the end of the Classical Gold Standard era in 1914.

Source: Forbes August 12, 2020 15:00 UTC