Some people are "gold bugs." These are investors who say people should buy gold to protect against inflation.
People have valued gold for thousands of years. The soft, dense metal polishes to a bright yellow shine and resists most chemical reactions. It makes a good material for money, political power -- and, more recently, electrical power. If you own a device like a mobile phone or a computer, you might own a little gold in the wiring.
The gold standard was the subject of one of the best-known speeches in American political history. It took place at the eighteen ninety-six Democratic National Convention in Chicago.
William Jennings Bryan wanted the country to use both gold and silver as money. The idea was to devalue the dollar and make it easier for farmers pay their debts. Here is Bryan reading his speech much later, in nineteen twenty-one.
WILLIAM JENNINGS BRYAN: "You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold."
The speech made William Jennings Bryan famous. He was a presidential candidate three times. But he never won.
And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.
Contributing: Pich Samnang
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25