Monday, May 09, 2011

A Gold Standard Does Not Require Full Gold Backing for Currency Issued

Among the various fairy tales you hear about gold standard systems, one of the most pervasive is the idea that there is, was, or should be a 100% reserve of gold to make it work. As a corollary, the idea emerges that you can't have a gold standard system unless you have . . .

Full story at: forbes.com

No comments: