Archive for June, 2008
Gold Standard (courtesy of Wikipedia, the free encyclopedia)
0 Comments Published June 4th, 2008 in UncategorizedThe gold standard is a monetary system in which a region’s common media of exchange are paper notes which receive substantial premia because they are normally freely convertible into fixed quantities of gold. Under a gold standard, money issuers normally stand willing to redeem their notes, upon demand, for pre-set, intertemporally constant, fixed amounts of [...]