Gold – silent anchor of the financial system?

Description

The banker J. P. Morgan stated before the US Congress in 1912: "Gold is money – everything else is credit." In this course, we examine the role the precious metal plays in our monetary system – yesterday and today. Personalities like John Law, John Maynard Keynes, and Winston Churchill shaped the path to the gold standard, the currency system where money was tied to a fixed amount of state gold. Richard Nixon ended the gold tie in 1971. From then on, gold was no longer the formal anchor. Can we still call it a silent anchor? We explore the connections between gold, interest rates, inflation, and the US dollar and illuminate the role of gold as part of the central banks' currency reserves. An evening for everyone who has the courage to engage with economic history and the development of our monetary system. Our speaker Victor Jans first studied teaching and then economics. He has been involved with gold for decades – as a gold prospector, co-editor of the book "Gold in Switzerland," and as a speaker on the economic history of the precious metal.

Highlights

• Lecture on the role of gold in the monetary system
• Speaker: Victor Jans, expert in economic history
• Discussion on gold, interest rates, and inflation

General Information

The course highlights the historical and current significance of gold in the financial system. Participants learn more about the gold standard and the development of the monetary system until the abolition of the gold tie in 1971.

Location

Hauptbahnhofstrasse 8, 4500 Solothurn, Switzerland

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