Bimetallic Guide, Meaning , Facts, Information and Description
The bimetalilc standard was an attempt to occupy the best of all worlds by the USA. The explosion of gold exploration, and the subsequent increase in world gold supply during the mid to late 19th century, caught the USA and Great Britain by surprise. Great Britain had adopted the gold standard and maintained it since the 1700's. The USA, like many European nations, had been on the silver standard: the currency of the common man. European nations had abandoned the silver standard by the late 19th century. They all adopted the gold standard, after Great Britain, at the end of the 19th century: America abandoned the silver standard soon afterwards, dispersing all silver stocks by the 20th century. From this point onwards, silver did not feature as a a metal to be traded against currency, nor as a reserve.
Cut to the present day. Silver is traded on a daily basis and gold is controlled by central bank dealing. The gold price is controlled by the central bank selling short; the silver price is controlled by a cohort of dealers and traders that work as efficiently as a central bank. One day the market will POP. As Burke said: "when the government comes to the market, the market ceases to exist".
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