It is a monetary system in which the standard economic unit of account is a fixed amount of a certain item. It arose out of a general acceptance that the item was useful as a universal currency. It was first adopted Following Queen Anne's proclamation of 1704. Soon to follow was Canada in 1853, Newfoundland in 1865, and the USA and Germany in 1873. What Am I Talking about ?
A-Gold Standard
No comments:
Post a Comment