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  • Classical Gold Standard
    559 words
    Topic: The Classical Gold Standard between the period of the early 1870's until the first world war, what was wrong with it and the collapse of the standard. I have picked this topic as it is of great interest to me. The reason being that South Africa was a big contributor to the way the Gold Standard played out in world finance. This was because of South Africa being one of the leading suppliers of Gold in the world As a result of its huge mining interests. This is important to me as I feel it ...
  • Return To The Gold Standard
    387 words
    The economists usually refer gold, silver, platinum and palladium to "elite" group of precious metals. Precious metals in general and gold in particular are specially ranked among other mineral resources. Gold traditionally was considered one of the first precious metals known to mankind. From the very beginning gold was used to produce precious jewelry, and, further, people started to use it as a base of monetary system. In XIX century the major part of world countries introduced so-called gold...
  • Opponents Of The Gold Standard
    841 words
    In classical economics imbalances in international trade were rectified automatically by the gold standard. A country in deficit would have to pay its debts in gold thus depleting gold reserves and would therefore have to reduce its money supply. The resulting fall in demand would reduce imports and the lowering of prices would boost exports; thus theoretically the deficit would be rectified (Rockwell, 10). In practice however this could seriously destabilize the economy of countries which ran a...
  • Restoration Of An Internal Gold Standard
    786 words
    Traditionally, the gold standard was not limited to one or two countries; it was an international system. With gold as money, international trade was conducted much more smoothly than it is now. With a gold standard, or indeed, with any money based on specie, traders and travellers need not constantly be concerned with losses they may suffer from exchange rate fluctuations. This also means that in a worldwide gold or specie standard, poor countries are not at the whim of international currency s...
  • Paper Money And Bank Notes
    5,284 words
    money commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed, it circulates from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. The subject of money has fascinated wise men from the time of Aristotle to the present day because it is so full of mystery and paradox. The piece of paper labelled one dollar or 100 francs or 10 kroner or 1,000 yen is little different...
  • Gold Exchange Standard
    754 words
    A. For thousands of years, gold was the ultimate money. It could buy anything including hearts. It was wealth and power to be sure, but it was also enchantment, with a special lustre and reasurring weight and feel. The lure of gold drive ships across stormy seas and explorers across rugged mountains to places as remote as Canada's Klondike region near the Arctic Circle. Gold isn't used as money any more. It still glitters, but it's treated more like soy beans or pork bellies than a ransom fit fo...

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