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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 else can I help you with?
Is owning gold good in a depression?
Owning gold during a depression will give you an upper hand because gold has always held a high value and worth. Whereas money such as the dollar, if a depression were to occur then its value and worth would deflate and it wouldn't help as much as gold would.
What are the economic benefits of the gold standard?
This is a very wide and controversial topic. The main reason that countries use the gold standard is to prop up their currency so that it is secured by something material as opposed to totally unsecured. This is because, theoretically, fiat money (paper currency) could become worth very little due to inflation (see WWII Germany). Pegging your currency to gold prevents such massive value fluctuations. Many see it almost as a moral issue, that government either shouldn't or is incapable of effectively managing a nation's currency. A corollary of this is that a gold standard would eliminate a lot of volatility of the market as investors no longer would have to guess Fed moves or lending policy, as the value of the currency would be in a stable (until recently) commodity. Probably the main benefit would be a reduction in volatility of a currency's value, but it must be warned that the effects of such a move by a country as large as the United States would most likely result in a lot of unforseen consequences, both good and bad.
With the present economy is gold a good investment?
I don't think so. the price of gold has wavered over the past few weeks and has come nowhere close to it's previous high. that being said, if you are interested in a long term investment, then I would suggest gold, we will eventually run out of gold in the earth and then all gold will skyrocket in price. http://www.nasdaq.com/asp/SummaryQuote.asp?symbol=GOLD&selected=GOLD
Is gold strong?
yup gold is strong that's why they used to fill in your teeth with gold its also a good conductor of electricity(:
What is the current value of a gold bar?
Depending on the current gold market as of today Friday June 17th, 2011. A gold bar (1oz in weight)at todays prices would be worth $1613.41. Though in saying that the prices could rise or fall, with todays market it will definitely rise and the price will rise. This is good if you own gold.
Was the gold in California gold rush good quality?
well technically all gold is ''good gold'' but the californian gold was pretty high standard
What are the disadvantages and advantages of the gold exchange standards?
1) An international gold standard has both positive and negative attributes. Currencies that are backed by gold maintain very stable exchange rates over long periods of time. This encourages international trade and investments, which help the global economy grow. A gold standard also creates a situation in which any errors in exchange rates are automatically corrected by the movement of gold. In addition to these advantages, the gold standard is also a good defense against inflation. Backing currency with gold is a great idea but a true gold standard is not plausible, the amount of gold being minted today is not enough to keep back our currency 100%. It would lead to insufficient international monetary reserves, which would hurt world trade and investment, and even cause global deflation. Also, the rules of the gold standard can not be strictly enforced with can cause problems.
What is the value of a beretta model 89 gold standard?
About $400-$550 for a Good to Excellent specimen.
Why did the adoption of the gold standard led to the farmers alliance?
because they wanted to. because it was a good idea
How long is a brat good for when left in the refrigerator?
As good as gold for a day or two, and then they start talking back to you again and you have to shove them back in the fridge until they get good and scared.
What would be a good rhyming slogen for gold?
SOLD
Would a standard schnauzer make a good guide dog?
No.
What color shirt goes best with gold color pant?
Red or black would be a good choice with gold. Also a light blue would go with gold.
Why was it a mistake for Moctezuma II to have sent Cortes disks of gold and silver?
Since Cortes was wanting as much gold and silver as possible in order to get back in the good graces of the spanish crown, it confirmed for Cortes that an occupation would be profitable
Would it be a good you idea to invest in gold?
Yes gold would be a good investment. Due to the current economic situation the U.S. dollar is weak and getting weaker. However as the dollar depreciates the price of gold goes up.
Which is better gold or 1gm gold?
1gm of gold is just 1 gram of gold. A measurement of its weight. How good it is would depend on its form and purity not its weight
What is the value of a 1942 gold walking liberty half dollar?
It's gold plated, but not gold. The good news is that 1942 is a common date for Walking Liberty halves so you can still sell it for its melt value of $5-7 as of 07/2010. In any case, a gold half dollar would have been about the diameter of a pencil eraser, and no gold coins were made for circulation after the US went off the gold standard in 1933.
