Chapter 2: Findings and Analysis- Problems facing the Gold Standard - National Reserve Currency

2.6     Problems facing the Gold Standard Problems facing the Gold Standard When the gold standard was applied throughout the whole world, it did not experience any problems. However, problems arose when the superpowers opted to fight their enemies using money, by introducing...

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Chapter 2: Findings and Analysis- Benefits of the Gold Standard - National Reserve Currency

2.5     Benefits of the Gold Standard Benefits of the Gold Standard If the benefits of the gold standard were to be compared with the fiat (paper currency) standard and other standards, it would be inevitable that the monetary gold standard would become a global standard. These...

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Chapter 2: Findings and Analysis- The Gold Standard - National Reserve Currency

2.4     The Gold Standard Gold Standard A State would be following the gold standard if it used gold currency in its foreign and domestic transactions, or if it used domestically a paper money which could be exchanged for gold. This paper money could either be for domestic use...

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Chapter 2: Findings and Analysis- Issuing of Currency - National Reserve Currency

2.3     Issuing of Currency Issuing Currency The price is the society’s estimate of the value of goods and the wage is the society’s estimate of the value of services. Money is the medium by which this estimate is expressed. It is the medium which enables us to measure various...

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Chapter 2: Findings and Analysis- Paper Money - National Reserve Currency

2.2.2    Paper Money Paper Money Paper money consists of three types, these are:    1. Intrinsic paper money: These are bank notes representing a certain amount of gold and silver, either coined or in bullion, deposited in a specific place, which have a metallic value...

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Chapter 2: Findings and Analysis- 2.1 Introduction - National Reserve Currency

2.1     Introduction “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves” - Norm Franz, Money and Wealth in the New Millennium. On the 31st of December 2010, Gold ended the year at $1,420 an ounce:...

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