Gold Price Yearly Chart

Why did gold price remained stable during the 1929 depression whereas it soars up nowadays?

when Wall Street collapses ?

In 1929, Gold was Money. The dollar in your pocket was redeemable for gold. You could go to the bank and say, I’ll give you my $50.00, give me a Gold Coin. Paper money in 1929 was nothing more than the equal of a Money Order today. You gave a bank Gold, that gave you paper money. You gave that paper money to somebody and they could take it back to the bank and get that gold.

Today, Debt is Money. Money isn’t backed by Gold. Gold is just a commodity you can purchase with your paper dollars. So as the value of the paper money changes, the amount of gold you can obtain changes. And the supply of that money is determined by the Federal Reserve.

Silver to Gold Ratio 1883 to Present – Bullion