Venetian bankers were already storing gold and issuing paper money, so-called war bonds. In the past, it was often wars or the ambitions of rulers that promoted the development of precious metals into paper promises. Venice was a pioneer in this respect. The great maritime power introduced paper substitutes for gold and silver. After all, military ventures such as the sack of Constantinople in 1204 had to be financed. Spain and France followed Venice's example. This allowed rulers to wage expensive wars without emptying their coffers. However, this reduced the wealth of the citizens. The Bank of England, which was founded in 1694, acted in a similar way. Businessmen lent gold to the crown to finance the war against France. In return, they were given the sole right to issue money.
Financial power was thus in the hands of a few. Paper money became more and more widespread, and gold and silver were no longer the medium of exchange of choice. The result was inflation, which came at the expense of people's savings. Just think of the Fed, founded in 1913. Creating paper money was so easy. The increasing separation of currencies from tangible assets often undermined economic stability and the prosperity of citizens. Today, debt and economic uncertainty prevail. Countries such as China, India, Russia, Saudi Arabia and Thailand want to reduce the dominance of the US dollar. Alternatives and gold-backed currencies are once again of interest in some countries. And many central banks are now increasingly buying gold and selling US government bonds. Smart private investors would do well to do as the central banks do or to look around at mining companies that own gold and silver.
There is Discovery Silver - https://www.commodity-tv.com/ondemand/companies/profil/discovery-silver-corp/ - with its silver-zinc-lead projects in northern Mexico, including the extremely promising Codero project, a world-leading silver project.
Aurania Resources - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ - is focusing on copper and precious metals in South America. The flagship project is located in the Andes in Peru and even contains visible gold.
Current company information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Discovery Silver (- https://www.resource-capital.ch/en/companies/discovery-silver-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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