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Topic: Monetary standard


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In the News (Fri 25 Dec 09)

  
  Monetary History Glossary
A monetary standard in which the monetary unit was defined as consisting of either a certain quantity of silver or a certain quantity of gold.
A monetary standard which defines the monetary unit of a country as consisting of a certain amount of gold.
For example, the UK was on a gold standard a the end of the 19th century, and the power to coin gold was granted to the Bank of England.
www.micheloud.com /FXM/MH/Glossary.htm   (1097 words)

  
  Gold standard - Encyclopedia.WorldSearch   (Site not responding. Last check: 2007-10-16)
The gold standard can also be viewed as a monetary system in which changes in the supply and demand of gold determine the value of goods and services in relation to their supply and demand.
To understand the adoption of the international gold standard in the late 19th century, it is important to follow the events of the late 18th century and early 19th.
Through the 1860–1871 period various attempts to resurrect bi-metallic standards were made, including one based on the gold and silver franc, however, with the rapid influx of silver from new deposits, the expectation of scarcity of silver ended.
encyclopedia.worldsearch.com /gold_standard.htm   (6690 words)

  
 Gold standard - Wikipedia, the free encyclopedia
The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold and currency issuers guarantee, under specified rules, to redeem notes in that amount of gold.
Gold would remain the metal of monetary reserve accounting until the collapse of the Bretton Woods agreement in 1972, and remains an important hedge against the actions of central banks and governments, a means of maintaining general liquidity, and as a store of value.
The reason these visions are not practically pursued is based on the same reasons that the gold standard fell apart in the first place: a fixed rate of exchange decreed by governments has no organic relationship between the supply and demand of gold and the supply and demand of goods.
www.wikipedia.org /wiki/Gold_standard   (6967 words)

  
 Paper Money and Tyranny
Since the monetary unit measures every economic transaction, from wages to prices, taxes, and interest rates, it is vitally important that its value is honestly established in the marketplace without bankers, government, politicians, or the Federal Reserve manipulating its value to serve special interests.
Since the monetary system is used to finance deficits that come from war expenditures, the military industrial complex is a strong supporter of the current monetary system.
Monetary policy today is designed to demonetize gold and guarantee for the first time that paper can serve as an adequate substitute in the hands of wise central bankers.
www.house.gov /paul/congrec/congrec2003/cr090503.htm   (7194 words)

  
 Gold Standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold and currency issuers guarantee, under specified rules, to redeem notes in that amount of gold.
The use of gold as a monetary standard has a long and varied history, from the period of time when coinage was the primary means for regulating money supply, all the way through the 20th century, where it was used to regulate international trade flows.
To understand the adoption of the international gold standard in the late 19th century, it is important to follow the events of the late 18th century and early 19th.
www.eoft.com /gold_standard.html   (6713 words)

  
 Gold standard - Wikipedia, the free encyclopedia
Money backed by a specie is sometimes called representative money, and the notes issued are often called certificates, to differentiate them from other forms of paper money.
This is because in any partial gold standard there is some amount of circulating paper that is not backed by gold, and hence it is possible for monetary issuing authorities to attempt to use seigniorage, and possibly inflation.
In a national Gold Standard system, gold coins circulate as legal tender, and all paper money is freely convertible into gold at a fixed rate.
en.wikipedia.org /wiki/Gold_Standard   (6967 words)

  
 Part I, A Gold Polaris
Monetary policy has always been most difficult for political leaders to understand, but never before has there been a greater need for it.
A standard is a concept of common agreement that enables people to communicate with each other in order to efficiently organize themselves for the business of living.
One standard is so clearly superior to differentiation that it has survived untouched for many thousands of years and will survive to the end of time on Earth.
www.polyconomics.com /searchbase/gp1.htm   (1443 words)

  
 Monetary Central Planning and the State, Part 27: Milton Friedman's Second Thoughts on the Costs of Paper Money
He stated that his many years in advocating a monetary "rule," under which the central monetary authority would increase the money supply at a constant annual rate regardless of changing economic conditions, had been a waste of time.
But if government officials, including central monetary authorities, cannot be trusted to serve some rightly understood conception of the "public interest" instead of various political agendas that further their personal and ideological interests, what kind of monetary order can ensure that this does not occur or that its likelihood is minimized?
The costs of a paper money standard to the society as a whole, Friedman argued, arose precisely from the uncertainty of future monetary policy under government monetary discretion and the inflationary bias that always tended to persist under government control of paper money.
www.fff.org /freedom/0399b.asp   (1544 words)

  
 Part II, A Gold Polaris
The term is that of Marx, who joined the other classical economists in asserting that the responsibility of government was to keep the paper symbols of gold in circulation exactly equal to the amount of gold for which they would substitute.
We speak not only of the collapse of financial institutions and enterprises in the absence of a fixed monetary standard, but also of the collapse of households and families by the tens, perhaps hundreds of millions.
In the absence of a monetary standard to fix the value of contracts between people, the linkages between debtors and creditors were loosened and so were the linkages between effort and reward.
wanniski.com /searchbase/gp2.htm   (1783 words)

  
 What Is Wrong With Gold?
This is a legacy from the days of the gold standard, which existed in one form or another between 1821 and 1971.
Prior to the 20th century, silver was also a monetary standard, but it has long since faded from this monetary scene and from the vaults of central banks around the world.
Perhaps history demonstrates that it is just too difficult for the world to work under a monetary standard based on a commodity because the demand for these metals depends on more than monetary needs.
www.investopedia.com /articles/05/033105.asp   (1102 words)

  
 Bimetallism: An Economic and Historical Analysis | Book Reviews | EH.Net
Redish sees a dichotomy between the economics literature, which is scanty on the details of a commodity (metallic) monetary standard, and the historical literature, which is overly detailed.
For a commodity standard, this means either multiple commodities (gold, silver, and copper coins) or a single commodity with variously sized pure coin, various-fineness pure coin, or convertible token coin.
First, the relationship between the monetary standard and the macroeconomy is not addressed.
www.eh.net /bookreviews/library/0311.shtml   (1097 words)

  
 The Gold Standard: An Analysis of Some Recent Proposals
To briefly sum up, advocacy of the gold standard is based on the view that governments are inherently inflationary institutions; therefore, the only realistic and lasting solution to the problem of inflation is to completely separate the government from money and return the latter institution to the free market whence it originally emerged.
Under the gold standard, the monetary unit is a weight unit of gold; under Weintraub's plan, gold is not money but a reserve commodity which is supposed to restrain the creation of government fiat money.
These frequent bouts of monetary inflation and deflation, moreover, are likely to be aggravated by the fact that the very mechanism by which the banking system adjusts to changes in the gold reserve base involves an artificial alteration in the entire structure of interest rates in the economy.
www.cato.org /pubs/pas/pa016.html   (7728 words)

  
 NCEE | EconomicsAmerica® | National Standards
Standard: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
In spite of these difficulties, policy makers and the general public continue to examine and debate the overall stabilization effects of public policy actions, because the consequences are so important.
Monetary policies are decisions by the Federal Reserve System that lead to changes in the supply of money and the availability of credit.
www.ncee.net /ea/standards/standard.php?sid=20   (974 words)

  
 the tangible standard new monetary system systems currencies interest rates equities commodities credit money audit ...
Monetary units backed by tangible assets like land, buildings, stocks, bonds, commodities, energy, water and even pizza.
The system is set to launch in the year 2000 using the global Internet, client and ISP computers and servers.
Interest as we know it in the new system is a different form and is not attached to the creation of new monetary units.
www.intelegen.com /money/tangible_standard.htm   (457 words)

  
 AN AUSTRIAN THEORY OF BUSINESS CYCLES
For instance, some countries have had a gold bullion standard (gold in bars or ingots) while the medium of exchange was silver coins and paper currency -- valued in relation to gold.
During the 19th century, when most of the world was on a gold standard, prices typically fell by a small amount each year except in times of war when governments used inflated money to finance their military.
But central bankers in foreign countries were all engaged in the same struggle for independence from the discipline of the gold standard that the Fed was attempting (as described in the " History of Modern Monetary Standards" section of this essay).
www.benbest.com /polecon/monetary.html   (11424 words)

  
 [No title]
Even today, the importance of gold in the international monetary system is reflected in the fact that it is today the only commodity held as reserve by the monetary authorities, and it constitutes the largest component after dollars in the total reserves of the international monetary system.
The debâcle of the transition countries is confirmed by the fact that not one of the countries, at the end of 1996, had recovered to the level of output from which the transitions began, and with only one or two exceptions, inflation remains at two-degit rates.
In the 1870s, the United States and France were campaigning for international monetary reform in the sense of an international return to bimetallism and the development of a standard international unit of account.
www.columbia.edu /~ram15/LBE.htm   (6748 words)

  
 Foreign Affairs - The Overstretch Myth - David H. Levey and Stuart S. Brown
Despite the persistence and pervasiveness of this doomsday prophecy, U.S. hegemony is in reality solidly grounded: it rests on an economy that is continually extending its lead in the innovation and application of new technology, ensuring its continued appeal for foreign central banks and private investors.
The dollar's role as the global monetary standard is not threatened, and the risk to U.S. financial stability posed by large foreign liabilities has been exaggerated.
The United States' external liabilities are denominated in its own currency, which remains the global monetary standard, and its economy remains on the frontier of global technological innovation, attracting foreign capital as well as immigrant labor with its rapid growth and the high returns it generates for investors.
www.foreignaffairs.org /20050301facomment84201/david-h-levey-stuart-s-brown/the-overstretch-myth.html   (1064 words)

  
 Gold standard - Wikipedia, the free encyclopedia
3.3 Gold Standard from peak to crisis (1901–1932)
1873: Latin Monetary Union (Belgium, Italy, Switzerland, France)
The Classical Gold Standard from What Has Government Done to Our Money?
en.wikipedia.org /wiki/Gold_standard   (6967 words)

  
 The CFA Franc Zone: Currency Union and Monetary Standard
The CFA Franc Zone: Currency Union and Monetary Standard
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Please address any questions about this title to publications@imf.org.
www.imf.org /external/pubs/cat/longres.cfm?sk=1009   (156 words)

  
 Encyclopedia article on Gold standard [EncycloZine]   (Site not responding. Last check: 2007-10-16)
The Gold Bug Variations (http://www.pkarchive.org/cranks/goldbug.html) by Paul Krugman describes the gold standard as an "economic myth".
Fact: The gold standard causes deflation and depressions (http://home.att.net/~Resurgence/L-gold.htm) — A Keynesian view of the gold standard.
NBER on the contribution of the Gold Standard to the Great Depression (http://www.nber.org/papers/W6060)
encyclozine.com /Gold_standard   (6684 words)

  
 testtest
He switched from the "Aeginatic" to the lighter weight "Attic" monetary standard reducing coinage weights and increased the amount of coinage in circulation.
Usurers were required to make monetary restitution to their "victims", and if they couldn’t be found, to the poor through the Church.
This book is highly recomended for those interested in usury, from both a moral and a monetary viewpoint.
www.monetary.org /interest.htm   (3448 words)

  
 EconPapers: D'une série de "national labour standards" à un "european monetary standard"?   (Site not responding. Last check: 2007-10-16)
EconPapers: D'une série de "national labour standards" à un "european monetary standard"?
D'une série de "national labour standards" à un "european monetary standard"?
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
netec.wustl.edu /BibEc/data/Papers/cpmcepmap9212.html   (106 words)

  
 Dictionary.com/monetary standard
n : the value behind the money in a monetary system [syn: standard]
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