18.12.2009 - Gold at $ 2,000 becoming acceptable to investors
From Commodityonline.com: In 1705, John Law submitted a proposal to the Scottish Parliament that a new bank be set up that issued interest bearing notes to replace gold and silver coins as currency. He believed that public confidence alone was the basis of public credit and would allow bank notes to replace gold. As he told a friend "I have discovered the secret of the philosopher' stone; it is to make gold out of paper." .....................................Full Article: Source
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