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For centuries money has been the dominant means of exchange. We use it to buy, sell, save, invest, and pay taxes. But have you ever wondered why money loses purchasing power, whereas gold strengthens over time ? Gold vs. Money: Which Retains Its Value Over Time? What is Money and Why is It Worth Less and Less? Modern money—banknotes, coins, and digital balances—is known as fiat money, meaning it is not backed by any tangible asset, but rather its value depends on the credib

“We have gold because we cannot trust governments” Herbert Hoover, president of the United States of America (1933) Dollar and gold: their story in three acts. Canva. The dollar is, without a doubt, the most important currency in the world, used by nations around the world as the main reserve currency to protect the stability of their currencies. It is a reference currency for pricing raw materials and commodities, and as a means of payment and settlement at a global level.