Gold as a medium of exchange

In times of crisis and catastrophe, means of exchange such as gold and silver can become significant – keyword blackout.

We are encountering more and more lists of how individuals should provide for the event of a blackout. On the one hand, confidence in paper currencies is sinking, as inflation is mercilessly hitting right now. On the other hand, in times when paper money is of no help, gold and silver can help. Already a very long time ago, these precious metals were a popular medium of exchange. Because gold and silver can be used to pay in a crisis, they can serve as a substitute currency. Of course, it would be difficult to pay the baker with a gold coin. After the Second World War, by the way, cigarettes were the most common medium of exchange, gold was not. Governments probably also have contingency plans in the drawer should there be a prolonged widespread power blackout.

Nevertheless, a certain stock of gold and silver coins is always a good investment. Gold is a classic store of value. Whether in the event of financial crashes, collapsing banking systems or economic crisis situations. Common bullion coins are probably best suited as an emergency reserve, as are LBMA-certified gold bars. But even though the risk of a blackout in Europe has increased significantly in recent years and as a result of current developments, one should look to the future with hope that this will not happen. What is certain, however, is this year’s inflation rate in this country averaging 8.1 percent. For the coming year even 9.3 per cent are prognosticated. It would make sense to have gold companies such as OceanaGold or Trillium Gold Mines in your portfolio.

OceanaGold – https://www.youtube.com/watch?v=y5HXuXb8Jhg – is an established producer with projects in the USA, the Philippines and New Zealand.

Trillium Gold Mines – https://www.youtube.com/watch?v=5ILnR9Y6Vfc – is engaged in exploration and property development in the Red Lake district of northern Ontario. Recent drill results returned up to 549 grams of gold per tonne of rock at the Newman Todd Complex.

Current corporate information and press releases from OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -) and Trillium Gold Mines (- https://www.resource-capital.ch/en/companies/trillium-gold-mines-inc/ -).

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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