Overview

100 percent gold backing


'100 percent gold backing' can also refer to...

 

More Like This

Show all results sharing this subject:

  • Economics

GO

Show Summary Details

Quick Reference

A reserve rule requiring the bank issuing a currency to hold gold of equal value. The only difference between this and a solid gold currency would be the saving in transaction costs from not having to handle the gold. This type of rule is generally regarded as unacceptable for the same reasons as the use of gold coinage itself.

Subjects: Economics.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.