The use of gold reserves as the backing of a country’s currency. This system requires that these currencies be freely convertible into gold at a fixed price, and that the country use gold to settle all its international trade transactions. Its major flaw is that it reduces a government’s ability to manage its money supply, and makes a healthy economy highly dependent on its trading partners conditions of inflation or depression. This prevents this system from working well in controlling inflation or maintaining a trade balance in international transactions. gold standard existed between 1900 and 1914 for the world’s major economic powers . World War 1 (1914-18) crushed this forcing all save the US to abandon the standard in 1931 during the Great Depression (1930-40). The US abandoned it in 1971. Today, all use the floating exchange rate system, the international monetary system.

• FIELD TEST
• FIERDING COURTS
• FIERI FACIAS
• PUBLIC DEBT
• PUBLIC DEBT
• PUBLIC DEBT OFFICE
• PUBLIC DEFENDER
• PUBLIC DOCUMENT
• PUBLIC DOCUMENT
• PUBLIC DOMAIN
• PUBLIC DOMAIN
• PUBLIC EASEMENT
• PUBLIC ENEMY
• PUBLIC ENEMY
• PUBLIC EQUITY
• PUBLIC EXPENDITURES
• PUBLIC FIGURE
• PUBLIC FILE
• PUBLIC FINANCE
• PUBLIC FLOAT
• PUBLIC FOUNDATION
• PUBLIC FUNDS
• PUBLIC GOOD
• PUBLIC GRANT
• PUBLIC GRANT