The Gold Standard
Posted in 101, Economics on 6 July 2009
Stats: 323 views and No Comments The gold standard is a monetary arrangement whereby the currency in circulation is equivalent to a fixed value of gold. The gold standard was replaced by fiat currency, whereby the government or central bank is ultimately responsible for the value of the money. Until 1971, the U.S. dollar was fixed to the ...
Posted in 101, Economics on 6 July 2009
Stats: 323 views and No Comments The gold standard is a monetary arrangement whereby the currency in circulation is equivalent to a fixed value of gold. The gold standard was replaced by fiat currency, whereby the government or central bank is ultimately responsible for the value of the money. Until 1971, the U.S. dollar was fixed to the ...
