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be on a gold standard [1 record]

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Record 1 1998-01-25

English

Subject field(s)
  • Currency and Foreign Exchange
  • Translation (General)
CONT

They ask, how can monetary policy have initiated such a disaster when we were on the gold standard? The answer is that we were not on a gold standard. The Federal Reserve Act of 1913-14 repealed the gold standard and replaced it with a system that ensured that the U.S. dollar would be a better store of value than gold.

French

Domaine(s)
  • Politique monétaire et marché des changes
  • Traduction (Généralités)
CONT

Ils se demandent comment la politique monétaire a pu être à l'origine d'un tel désastre alors même que l'on se trouvait sous un régime d'étalon-or. La réponse est que les États-Unis n'étaient pas soumis à l'étalon-or. La loi de la Réserve fédérale de 1913-1914 lui avait, en effet, substitué un système garantissant que le dollar serait une meilleure réserve de valeur que l'or.

Spanish

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