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The abandonment of the gold standard during World War I allowed countries to print money to fund the war, which would not have been possible if they adhered to gold's discipline. This shift marked the beginning of the end for Europe's dominance.

The gold standard, designed by Isaac Newton in the 18th century, was abandoned by the Bank of England in 1798 because it couldn't afford to redeem its notes for gold. This marked a significant shift in economic policy.

Throughout history, gold has been melted down and repurposed, erasing its provenance. This means that a piece of gold today could have been part of ancient artifacts or even handled by historical figures.

The Justinian solidus, minted in 600 AD, was the dominant coin of Byzantium and is the origin of the Italian word 'soldi' for money. This historical link underscores the long-standing value and cultural significance of gold in monetary systems.

Dominic Frisby explains that the reason things are more expensive today than in the past is due to the lack of constraints on money creation. He highlights that prices in the UK have increased twice as much as in the US because the pound has been roughly twice as weak as the US dollar.

When gold was money, the only way to create cash was by mining gold, a dangerous and expensive endeavor. Now, with no gold standard, money can be created through various means, such as printing money and issuing debt.

Every great empire, from the Greeks to the Romans to the British, has had its currency serve as the global reserve. Currently, the US holds this position, but China's rise could challenge it.

Since the final vestiges of the gold standard were abandoned in 1971, the supply of money has ballooned. This has led to more money chasing the same amount of goods, contributing to the rise in prices over the years.

Gordon Brown's decision to sell two-thirds of the UK's gold reserves at the market's bottom is considered one of the worst financial decisions in history, haunting him as gold prices rise.

In 1925, Britain returned to the gold standard at the pre-war rate as a show of strength, but it was a 'fake gold standard' since gold was no longer in circulation, unlike in the 19th century.