09:00–16:30 Helsinki time zone
In 1999, the European Union introduced its new currency, the euro, with the aim to promote economic stability and growth.
However, in just over twenty years, the euro has lost 85% of its value against gold.
Yet is the euro a unique case?
History shows that since 1999, all other major currencies have performed as poorly as the euro.
Yet what happened before 1999?
Historically, fiat currencies seem to be very weak and do not store value well in the long term. The US dollar has not kept its value over the past 100 years since it has lost 99% of its value against gold. Or in other words: In 1920, $1 would buy 1.51 grams of gold; in 2020, the purchasing power of $1 was no more than 0.016 grams of gold.
For thousands of years and all across the globe, gold has been valued. Here are some examples: