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What is the Gold Standard?
The basing of a currency on gold. In some sense in such a system, gold IS the currency and money is a symbol for a corresponding amount of gold, backed by the issuer - i.e. the bank promises that by some means you are always able to exchange X of its currency for Y gold, and vice versa. No country still uses the gold standard - modern currencies are free floating with their value determined by local markets and exchange rates with other currencies. Even so, national governments still usually carry large gold reserves as a holdover from the time when they needed them as a physical guarantee. Gold has remained valuable over thousands of years so it can always be sold as needed for any currency (including its own) that a country might need, or bought to safely store wealth. A currency system in which each dollar is worth 1/20 of an ounce of gold (gradpoint)
Why would it be good to go back to the gold standard?
The gold standard is a monetary system in which the value of currency is determined by its relative exchange for a widely available and valuable commodity (traditionally gold). The concept was designed to limit the printing or issuance of currency without regard to the collateral (the amount of gold any government or country had). This is no longer used by any government, legal tender having become backed by the "full credit and faith" of the issuer, based on the goods and services produced that provide revenue. In the US, the gold standard was used from 1882 - 1933 and was preceded by first "gold notes" in 1865. Going back to the gold system would have some benefits in reducing public debt and deficits, but would be nearly impossible given the amount of unsecured debt in the US and worldwide.
What are some monopoly's?
Standard Oil is one
Is US money supply backed by gold?
None. No currency in the world can be exchanged or is backed by gold, since the Bretton Woods accord made in 1972.There are however, some countries that mint gold coins (named gold bullion) that can be purchased at some numismatic shops:United StatesCanadaMexicoSouth AfricaAustraliaChinaAustria
Will gold price decrease in future?
Gold prices have been on the high rise for some years now, and no it does not look like gold prices will decrease in the near future.
What would be the driving factor for returning to some type of gold standard?
BIS
Do some nations base the value of their money on their gold stores?
Yes, some countries use the gold standard for their economy.
What is the gold etf standard?
The gold etf standard is an open ended mutual fund that many or some will invest in over the next few months to become rich and have a better life through trade profits.
Why is au the symbol for gold if the name gold has none of those letters in it?
Some chemical symbols come from the an element's name in another language. In the case of gold Au comes from the Latin name for gold: aurum.
What is XAU gold ounces?
The Philadelphia gold and silver index represented by the symbol XAU ,but there is some confusion because it is closed under the ISO 4217 currency standard to denote one troy ounce of gold.
Why did bank runs increase before Roosevelt's inauguration?
Bank runs greatly increased after Roosevelt's election because people feared he would abandon the gold standard and reduce the value of the dollar to fight the Depression.
Which superstar is returning to WWE?
eage returning to the wwe. also some of ecw superstarz are coming to wwe.
Why is gold medals for first silver for second and bronze for third?
Because tradition made it that way. Silver in some cases, is more prestigious than gold, but in the case of the Olympics, it is not.
Are bulova watches real gold?
If the case is marked as karat gold, yes. That would be 10K, 14K, 18K. There may be some marked 9K. Most are not solid gold. They are marked RGP, (rolled gold plate), or 1/20th 14k which is one quality of gold fill.
What does 333 mean in gold?
333 Gold became a Standard in Germany after 1884. It means that the gold is .333 pure. Many Edwardian and Art Deco rings where made with this gold. It doesn't mean it's cheap though. Some of these items can be very expensive depending on who designed the item.
Before world war 1 many countries had government that did not issue which type of currency?
Most countries were on a gold standard before 1914. Some notes were issued but could be exchanged at par for gold coins.
Why is the standard of reasonable doubt so central to the decision making process in a murder case?
Because that is the standard by which the decision will be made that will affect the defendant for the remainder of their life and may possibly, in some states, cost them their life.
