There’s always a pattern. Societies in decadence abandon gold and resort to baser currency, first silver, then copper and eventually iron or nickel.
Societies in their Zenith use the gold standard…
Origin
The gold specie standard arose from the widespread acceptance of gold as currency.[5]Various commodities have been used as money; typically, the one that loses the least value over time becomes the accepted form.[6] Chemically, gold is of all major metals the one most resistant to corrosion.[citation needed]
The use of gold as money began thousands of years ago in Asia Minor.[7]
During the early and high Middle Ages, the Byzantine gold solidus, commonly known as the bezant, was used widely throughout Europe and the Mediterranean. However, as the Byzantine Empire’s economic influence declined, so too did the use of the bezant.[8] In its place, European territories chose silver as their currency over gold, leading to the development of silver standards.
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Philippines either has a lot of natural golds or there were a lot piracy during Spanish era and our country was an ideal place to search and stash golds? The article mention that there are gold deposits in several provinces and for this reason the country was nickname El Dorado. If there were pirates searching for golds and stashing treasures in Philippines then we may have also a version of Captain Blood, the notorious pirate.
Dollar is collapsing, We as well start investing in gold.