Here’s a famous photograph from a 1949 issue of Life Magazine, of Chinese citizens rushing to exchange currency for gold. In an effort to promote confidence in their currency, the government offered citizens the chance to exchange currency for gold at a rate better than could be found on the black market, but had to quit the offer after just 21 hours because of the hysteria that ensued.
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Now compared to the modern day Year 2012 “Chinese Gold Rush”.
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