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Michael David Bordo (born 1942 in Montreal, Quebec) is a Canadian and American economist, ... The Gold Standard and Related Regimes: Collected Essays, ...
According to economist Michael D. Bordo, the gold standard has three benefits: "its record as a stable nominal anchor; its automaticity; and its role as a credible commitment mechanism": [15] A gold standard does not allow some types of financial repression. [100]
The painting that can represent nothing and still remains a painting is 'money itself', and the modernist (or, perhaps, literalist) aesthetic of freedom from representation is a gold bug aesthetic. For The Gold Standard author, states Jameson, everything comes down to the "self" and the "desperate or passionate fantasies" of productionism ...
In a 1964 article, [5] educator and historian Henry Littlefield outlined an allegory in the book of the late-19th-century debate regarding monetary policy.According to this view, for instance, the Yellow Brick Road represents the gold standard, and the Silver Shoes (Ruby slippers in the 1939 film version) represent the Silverites' wish to maintain convertibility under a sixteen to one ratio ...
The gold standard was unpopular in many agricultural and mining areas, as the quantity of gold available limited the money supply, making it difficult for farmers to obtain loans and pay debts. Advocates of the free and unlimited coinage of silver believed that doing so would cure the country's economic malaise by increasing the money supply.
Backed by the full faith and credit of the federal government, U.S. Treasury bonds have long been viewed as the gold standard in safe investments.
Burry also made a substantial bet on gold by purchasing 440,729 shares of Sprott Physical Gold Trust, valued at $7.6 million at the end of Q1, making it the fifth-largest position in his portfolio.
Great Britain rose to the status of monetary hegemon in 1871 with widespread adoption of the gold standard. During the gold standard of the late nineteenth century, Britain became the greatest exporter of financial capital. Its capital city, London, also became center of the world gold, money, and financial markets. This was a major reason for ...