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In this podcast series we talk to founders about startup struggles, scaling success and sustainable growth
Hosted on Acast. See acast.com/privacy for more information.
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760 WJR’s Jeff Sloan brings you your first look at the day with “The Pre W. Smith Show”! You’ll get a selection of interesting interviews with commentary from Jeff’s experienced business perspective, plus the latest headlines from Fox News Radio, and traffic and weather to get you where you're going safely and on time. Don’t miss your “Paul W. Smith Show” preamble, weekdays starting at 5 a.m. with Jeff Sloan, on 760 WJR.
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Gold: A Historical Pillar in World Economics and Its Current Resurgence Gold has held a unique and significant place in human history, serving as a symbol of wealth, power, and stability. Its importance in world economics has evolved over centuries, adapting to changing economic landscapes while maintaining its status as a valuable commodity. Recently, gold has seen a resurgence in value, driven by potential drops in interest rates and economic uncertainties. This article explores the historical significance of gold, its role in global economics, and the factors contributing to its current rise. From ancient civilizations to modern financial markets, gold continues to fascinate and influence economies worldwide, making it a subject of enduring interest for economists, investors, and policymakers alike. Historical Importance of Gold Ancient Civilizations Gold's allure dates back to ancient civilizations, where it was treasured for its beauty, rarity, and malleability. Ancient Egyptians used gold extensively for jewelry, decorations, and as a symbol of divine power. The legendary wealth of pharaohs often included vast quantities of gold, underscoring its status as a measure of wealth and power. The tombs of ancient Egyptian rulers, such as Tutankhamun, revealed the extent to which gold was revered, with intricate gold masks, sarcophagi, and ornaments accompanying the deceased into the afterlife. This reverence for gold was not limited to Egypt; civilizations across the ancient world, from the Indus Valley to Mesoamerica, prized gold for its aesthetic and symbolic value. In ancient Greece and Rome, gold coins became a primary medium of exchange, facilitating trade and economic stability. The gold standard in these civilizations set a precedent for using precious metals as a basis for currency. The Roman Empire's extensive use of gold coins, such as the aureus, helped standardize trade across its vast territories, demonstrating gold's role in fostering economic integration and stability in the ancient world. The Middle Ages and Renaissance During the Middle Ages, gold continued to play a crucial role in European economies. The discovery of gold in Africa led to increased trade between Europe and Africa, enriching European merchants and solidifying gold's importance in global trade. The gold trade routes across the Sahara Desert became vital arteries of commerce, connecting West African gold-producing regions with Mediterranean markets. This trade not only enriched European and North African kingdoms but also facilitated cultural exchange and the spread of ideas. The demand for gold in Europe during this period fueled exploration and trade missions, contributing to the expansion of geographical knowledge and the development of new trade routes. The Renaissance era saw a renewed interest in gold as European explorers sought new sources of wealth in the Americas. The influx of gold and silver from the New World significantly impacted European economies, leading to inflation but also driving economic growth and development. The Spanish conquest of the Americas, particularly the exploitation of gold and silver mines in regions like Peru and Mexico, led to a massive influx of precious metals into Europe. This "Price Revolution" of the 16th century, characterized by significant inflation, had far-reaching economic and social consequences, reshaping European societies and economies. The wealth generated from New World gold played a crucial role in financing the artistic and cultural flourishing of the Renaissance, supporting the works of masters like Leonardo da Vinci and Michelangelo. The Gold Standard The 19th century marked the establishment of the gold standard, where countries pegged their currencies to a specific quantity of gold. This system provided a stable framework for international trade and investment, reducing exchange rate volatility and fostering economic growth. The gold standard era, which reached its peak in the late 19th and early 20th centuries, saw unprecedented levels of international trade and investment. Countries adhering to the gold standard could easily convert their currencies into fixed amounts of gold, facilitating smoother international transactions and reducing the risks associated with currency fluctuations. This stability encouraged cross-border investment and trade, contributing to the first wave of globalization. The United States adopted the gold standard in 1879, further cementing gold's role in global finance. The gold standard system persisted until the early 20th century, when economic challenges during the Great Depression led to its abandonment. However, the legacy of the gold standard continues to influence economic thought and policy. The period of the classical gold standard, from 1880 to 1914, is often referred to as the first era of globalization, characterized by relatively free movement of capital and goods across borders. The stability provided by the gold standard contributed to rapid industrialization and economic growth in many countries. However, the rigidity of the gold standard also posed challenges, particularly during economic downturns, as it limited the ability of governments to implement expansionary monetary policies to combat recessions. Gold in Modern Economics The Bretton Woods System In the aftermath of World War II, the Bretton Woods Agreement established a new international monetary system, with the U.S. dollar pegged to gold and other currencies pegged to the dollar. This system aimed to promote global economic stability and growth. The Bretton Woods system, named after the New Hampshire town where the agreement was reached in 1944, was designed to address the economic instabilities that had contributed to the Great Depression and World War II. Under this system, the United States committed to converting dollars into gold at a fixed rate of $35 per ounce, while other countries pegged their currencies to the dollar. This arrangement effectively made the U.S. dollar the world's reserve currency, a status it continues to hold today. The Bretton Woods system lasted until 1971, when President Richard Nixon ended the convertibility of the dollar into gold. This decision, known as the "Nixon Shock," marked the transition to a fiat currency system, where the value of money is not directly tied to a physical commodity like gold. The end of the Bretton Woods system ushered in a new era of floating exchange rates and greater monetary policy flexibility for central banks. While this change allowed for more responsive economic policies, it also introduced new challenges in managing currency stability and international trade relations. Gold as a Safe-Haven Asset In the modern era, gold has retained its status as a safe-haven asset. Investors turn to gold during times of economic uncertainty, political instability, and financial crises. Gold's intrinsic value and historical stability make it an attractive hedge against inflation and currency devaluation. This safe-haven status was particularly evident during major economic crises of the late 20th and early 21st centuries. The 2008 financial crisis underscored gold's role as a refuge for investors seeking stability. As stock markets plummeted and economic uncertainty soared, gold prices surged, reflecting its enduring appeal in turbulent times. Between 2007 and 2011, the price of gold more than doubled, reaching record highs as investors sought safety amid the global financial turmoil. This pattern has repeated during subsequent periods of economic uncertainty, such as the European debt crisis and the COVID-19 pandemic, reinforcing gold's reputation as a reliable store of value during challenging economic times. The appeal of gold as a safe-haven asset is rooted in several factors, including its limited supply, durability, and lack of counterparty risk. Unlike paper currencies or other financial assets, gold is not tied to the performance of any particular government or company, making it an attractive option for diversifying investment portfolios and mitigating risk. Central Bank Reserves Central banks around the world continue to hold significant gold reserves as part of their monetary policy strategies. Gold reserves provide a buffer against currency fluctuations and serve as a symbol of economic strength and stability. The practice of central banks holding gold reserves dates back to the era of the gold standard, but it has persisted long after the abandonment of gold-backed currencies. Gold holdings by central banks serve multiple purposes, including diversifying foreign exchange reserves, maintaining confidence in national currencies, and providing a hedge against economic uncertainties. Countries like the United States, Germany, and China maintain substantial gold reserves, reflecting gold's ongoing importance in global finance. Central banks' decisions to buy or sell gold can influence market prices and signal broader economic trends. In recent years, there has been a trend among some central banks, particularly in emerging economies, to increase their gold holdings. This shift reflects a desire to reduce dependence on the U.S. dollar and diversify reserves in the face of global economic uncertainties. The actions of central banks regarding gold reserves are closely watched by market participants, as they can provide insights into monetary policy strategies and economic outlooks of major economies. Recent Resurgence of Gold Economic Uncertainty and Interest Rates In recent years, gold has experienced a resurgence in value, driven by a confluence of economic factors. One of the primary drivers is economic uncertainty, exacerbated by the COVID-19 pandemic, geopolitical tensions, and concerns about inflation. The global economic disruptions caused by the pandemic have led many investors to seek the perceived safety of gold, driving up demand and prices. Potential drops in interest rates have also played a -
Richard Oring and Josh Levitus discuss financial matters at New Century Financial Group, located in Princeton, New Jersey. Richard's expertise in taxes and accounting provides him with a distinct viewpoint on financial planning and how taxes interplay with it. Meanwhile, Josh offers his experience in working with younger investors to the discussion.
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Catalysts dives deeper into the day’s biggest stories. Anchored by Seana Smith and Madison Mills, it gives investors a glimpse into what is moving markets and why. If a stock moves, it affects more than just that one stock. What are the chain reactions? We explain the ripple effect.
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Are you a GOAT or an Underdog? The Culture Referee, Ray Daniels will interview industry legends about their GOAT story and how they may still see themselves as underdogs. These conversations will be about "on-field" performance. A journey to becoming what the culture deems one of the highest titles one can receive, a GOAT is a long one, and some may feel that even after much success they still fit in the category as an underdog.
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An online documentation contributed by unique and interesting women-founded brands, recorded remotely from around the world. Tune in every other Friday to eavesdrop on these fresh coffee talks about branding and business and hear interesting perspectives from different women in this digital landscape. A mix of funny stories, insider looks, and extrapolated TOP 3 tips as each guest answers this main question: "What are your TOP 3 valuable tips and advice that you learned about Branding and Business?" Then, we discuss it. This podcast is hosted by digital nomader and faith-lover, Peggy Bree, and is powered by BLANK ROOM.
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Context Only is a conversation between Photographer Tyler Chick & his guests. Whether it be the leaders of fashion & entertainment to someone fresh off the street with a dream, Context Only is a space that combines a photo session with a conversation about the experiences that make us human.
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You are Welcome to the Favour Kelvins Podcast. The side Of the internet that talks about
How to make money in dollars
How to grow your online business
How to make internet money
How to become the woman who will lead a business and build generational wealth (aka The Godly Billionaire Chic)
On this podcast, I teach you how to become a well-rounded woman.
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Founders Connect is on a mission to document the stories, journeys and ideologies of leading and emerging African entrepreneurs and operators.
The podcast aims to create meaningful insights that can be shared and beneficial to other founders, entrepreneurs, knowledge seekers, consumers and the world in general - targeting a wide variety of audiences. -
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FinTalk with Adebola is a podcast series that gives detailed and understandable economic analysis, stock analysis and current affairs. This podcast series will also cover interesting topics on personal finance and tips.
Get ready for an exciting journey with FinTalk with Adebola. -
Small Business, Big Network is the podcast for small business owners who want better results from their networking.
I'm Liz Drury, a freelance voiceover artist who knows that if you're not working as much as you'd like, then networking could help!
The show is a mix of bite sized episodes on networking basics, and interviews with business owners who are successfully using networking to grow. There are lots of inspirational stories that will encourage you to get started or to keep going on your own networking journey.