In 1919, the Rothschilds and their colleagues, leading traders of the industry, began meeting twice a day to set the price of gold. Gold became one of the family’s most valuable assets, and it eventually became a benchmark amongst the world markets. The meetings apparently went down like this: several participants would send their representatives to the Rothschild offices. They would then call their trading room and raise the Union Jack. Once all the flags had been lowered, the price had been agreed upon. The daily meetings continued from 1919 to 2004, when Barclays took up the spot that the Rothschilds once held.