First of all, gold is an asset. The rarity of gold makes gold very precious, and the stability of gold makes gold easy to preserve. Therefore, gold not only becomes the material wealth of mankind, but also becomes an important means for humans to store wealth. Therefore, gold has been favored by human beings.
Gold historian Green pointed out: "The civilizations of ancient Egypt and ancient Rome were cultivated by gold." The plundering of more gold is the driving force of the ancient Egyptian and Roman rulers.
From 2000 BC to 1849 BC, the ancient Egyptian rulers carried out four predatory wars against Nubia (a small country in the upper reaches of the Nile, rich in gold resources) and occupied all gold mines in Nubia. From 1525 BC to 1465 BC, Egypt’s 18th dynasty, the French dynasty, launched two wars and plundered a large amount of gold and silver from Palestine and Syria. A large amount of gold and silver flowed into Egypt, which greatly increased the wealth of Egypt, enabling them to build large-scale water conservancy projects, develop agriculture, build luxury palaces and cemeteries, and left a huge temple and pyramid of Amon temples for humanity. Only the golden dragonfly in the tomb of Tutankhamun weighs 110 kilograms.
Ancient Egypt was occupied by the Roman Empire in 47 BC. When Roman Emperor Caesar triumphed in Rome, he displayed 2,822 golden crowns plundered from Egypt. Each gold crown weighed 8 kilograms, totaling 22.58 tons. It also showed 1815 tons of silver. The gold and silver carrying the parade weighed 65,000 Tarant, about 1950 tons. The accumulation of gold and silver has greatly increased the national power of the Roman Empire, enabling them to build a number of magnificent buildings. Although most of these buildings are now ruined, they still have profound influence on human beings in literature, history, law, and philosophy.
Gold is also the material basis of modern industrial civilization
The opening of new routes in the sixteenth century and the discovery of the New World have had a tremendous impact on European economic life. Among them, gold and silver from the Americas and Africa flowed into Europe, which increased the original accumulation of European capitalism. In the 16th century, Portugal plundered 276 tons of gold from Africa; Spain plundered more gold and silver from the Americas, and at the end of the 16th century Spain controlled 83% of the world's gold mining. The massive inflow of gold and silver has caused the rise of European prices, and the first price revolution has taken place, which has greatly promoted the disintegration of European feudalism and the establishment of capitalist relations of production. In the 17th century, Portugal competed with the United Kingdom to fight against Spain and opened its market to British industrial products. At this time, the rise of Brazilian gold development under the control of Portugal, Brazil's gold is completely possible to be converted into capital, and Portugal completed the industrial revolution, but due to the feudal autocracy of the ruler, Portugal became a golden funnel, and most of the gold flowed to the United Kingdom. Only 600 tons of gold flowing into the British treasury, coupled with the inflow of other countries, enabled the UK to quickly accumulate huge amounts of monetary capital, taking the lead in implementing the gold standard in 1717, providing a reliable financial guarantee for the UK financial system. . Therefore, the second price revolution that occurred at this time not only did not affect the financial industry in the UK, but created conditions for the export of British goods. The export volume of British products accounted for a quarter of the world's total. The industrial revolution finally took place in the UK.
Although the role of contemporary gold has changed, countries still reserve about 31,000 tons of gold wealth in case of unexpected needs; more than 20,000 tons of gold is privately owned investment wealth. Therefore, some people think that about 40% of the approximately 140,000 tons of gold produced by human beings for thousands of years are financial assets, which exist in the financial sector, and about 60% are general commodities. The main function is for consumption.
Second, gold is a currency. The history of gold as a currency is very long. The ancient Roman gold coin unearthed has been more than 2,300 years old. The Persian gold coin has a history of more than 2,500 years. The earliest gold coins in China are the "love" of Chu in the Spring and Autumn Period and the Warring States Period. It has a history of more than 2,300 years. However, these gold coins are only used in a certain range and in the region. Gold became a world-recognized international currency in the “golden standard†period that emerged in the nineteenth century. "Gold standard" means that gold can be used as a means of domestic payment for circulation settlement; it can be used as an international hard currency for foreign trade settlement. Although the British first implemented the gold standard as early as 1717, it was not officially established in the system until 1816. After that, Germany, Sweden, Norway, the Netherlands, the United States, France, Russia, Japan and other countries have successively announced the implementation of the gold standard. The gold standard is the peak of the performance of the gold currency. The countries of the world have implemented the gold standard system for more than 200 years, and the short-term has been for decades. China has never implemented the gold standard. Since then, due to the outbreak of the world war, countries have carried out gold control, and the gold standard is difficult to maintain. On the eve of the end of the Second World War, under the leadership of the United States, the Bretton Woods Conference was held, and relevant resolutions were passed to establish a US dollar-centered international monetary system. However, the US dollar is linked to gold, and the United States is committed to accepting an exchange of US$35. The international obligation of gold. However, in the 1960s, there were several times of gold buying. In order to protect their own interests, the United States first gave up the fixed official price of gold, and later announced that it would no longer bear the obligation to exchange gold. Therefore, the Bretton Woods monetary system collapsed and began. The non-monetization reform of gold. This reform began in the early 1970s and was approved in 1978 after the revised International Monetary Fund Agreement. It can be said that the gold non-monetization process at the institutional level has been completed.
Marx said: "Currency is not gold and silver, gold and silver are natural currency." Just as gold played a monetary function before the gold standard, gold non-monetization at the institutional level does not mean that gold has completely lost its currency. Function:
Gold is no longer used in foreign trade settlement, but in the final balance of payments, gold is still a form of settlement acceptable to both parties.
The non-monetization of gold does not stipulate the fate of the huge gold reserves of all countries. Even the International Monetary Fund, which holds high the banner of non-monetization of gold, only stipulates that 1/6 of the gold reserves are disposed of, while retaining most of the gold reserves, apparently I left the tail of a currency gold.
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