By 1935, the silver standard, which had defined China’s monetary system for centuries, was in crisis. While most major economies had already abandoned silver-backed currencies in favor of gold or fiat money, China remained the last major nation still using…
By the early 20th century, China was the last major economy still operating under a silver standard, while most of the world had already transitioned to gold or fiat currencies. However, in 1934, a new U.S. silver policy—the Silver Purchase…
By the mid-20th century, silver’s role in the U.S. monetary system was coming to an end, marking a significant shift in its status from a monetary metal to a commodity. While silver had historically been a foundation of U.S. currency,…
By the mid-20th century, silver transitioned fully from a monetary metal to a commodity, marking a dramatic shift in its role within the global economy. For centuries, silver had been a foundation of trade, currency, and wealth storage, but after…
The Bretton Woods Agreement of 1944 initially established a gold-backed global monetary system, with the U.S. dollar as the world’s reserve currency. However, by the late 20th century, even this gold-based system would be abandoned, giving rise to fiat currencies—money…
Post-WWII monetary systems marked the final chapter in silver’s long history as a monetary metal. With the establishment of the Bretton Woods Agreement in 1944, global finance shifted to a gold-backed U.S. dollar, sidelining silver entirely from international monetary policy.…
