Students often ask me what is the Gold Standard and what does it mean. I have seen countries use the standard and there has been some benefit to doing that. There are some limitations. One has to really look at the Gold Standard because it can stabilize the value of money. That can be helpful when we have high inflation. Of course as with all strategies and fiscal policies there are positives and negative. Overall......I think the Gold Standard concept has merit. I wonder if one could balance the two methods by including a battery of Gold with a few other valuable resources? Need to think about it....
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