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gold standards Meaning
gold standards
benchmark sense 1a, a monetary standard under which the basic unit of currency is defined by a stated quantity of gold and which is usually characterized by the coinage and circulation of gold, unrestricted convertibility of other money into gold, and the free export and import of gold for settling of international obligations
gold standards Sentence Examples
- The ancient Incas esteemed gold as having unparalleled value, making it their gold standard for currency.
- The global gold standard, once the cornerstone of international monetary systems, has faced scrutiny in recent times.
- The gold standard was abandoned during the Great Depression due to fears of deflation and economic crisis.
- Governments employed the gold standard to maintain a stable exchange rate and control inflation.
- The Bretton Woods system established a modified gold standard, anchoring the value of currencies to the dollar, which was in turn backed by gold.
- Critics argue that the gold standard restricts economic growth and prevents governments from implementing necessary monetary policies.
- Despite criticism, advocates of the gold standard maintain its ability to foster monetary discipline and prevent inflation.
- Modern monetary systems have largely abandoned the gold standard, opting for fiat currency backed by the trust in issuing governments.
- The value of gold continues to serve as a benchmark for monetary stability and a safe haven for investors seeking to preserve wealth.
- While not a universally accepted monetary system, the gold standard remains a topic of debate and fascination among economists and policymakers.
FAQs About the word gold standards
benchmark sense 1a, a monetary standard under which the basic unit of currency is defined by a stated quantity of gold and which is usually characterized by the
standards, benchmarks, criterions, criteria, examples, measures, grades,metrics, yardsticks, barometers
deviations, abnormalities,aberrations,
The ancient Incas esteemed gold as having unparalleled value, making it their gold standard for currency.
The global gold standard, once the cornerstone of international monetary systems, has faced scrutiny in recent times.
The gold standard was abandoned during the Great Depression due to fears of deflation and economic crisis.
Governments employed the gold standard to maintain a stable exchange rate and control inflation.
