U.S. Business: SOME QUESTIONS & ANSWERS ABOUT GOLD

Why Is Gold So Important?

Partly because it has been the universal symbol of wealth since before the Lydians invented money. More practically, gold is limited in supply and therefore fairly stable; it is valuable even in small amounts, and thus eminently portable. Unlike paper currencies, it is immune to inflation, loss of value and most other disasters. It is a keystone of the international monetary system, more highly prized than most paper currencies.

What Is the International Monetary System?

It is a series of treaties and gentlemen's agreements among the world's nations about how they will finance their trade with one another....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!