During the post-World War II gold dollar, real economic growth averaged 4% a year.
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Upheaval in the early 1970s ended the first dollar order (really a gold-dollar order) of the postwar era.
What happens if say we go to a hard currency, say gold backed dollar in a fixed relationship?
By mid-1932 there were public fears of a change in the gold-dollar relationship.
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Because gold is dollar-denominated, the two markets often move in opposite directions.
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The renminbi might well make a fine regional reserve currency, but the global reserve currency system is likely to gravitate towards a combination of gold, dollar, yen, renminbi and perhaps even oil.
Smith said one weight for gold in dollar terms could be the ripple effects of the bankruptcy of MF Global and the difficulties former clients of that firm have had in accessing all of their funds.
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You see headlines, traders are bearish on the dollar, gold is rising, the dollar is weaker -- and yet the administration keeps on saying that they have a strong dollar policy.
Many of them may see flat gold prices in dollar terms, but would be buyers of gold in euro terms as the outlook for gold as valued in that currency is stronger.
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Yes, the rise in Yen gold prices has come alongside sharper-still gains in the dollar gold price.
Finally, a gold standard produces trust in the dollar because gold has the unique characteristic of maintaining its buying power over time.
What is required is a statutory device adopted by both Europe and the U.S. by which the dollar and euro can be fixed to one another through gold, in consequence of which all other currencies would be compelled "as if by a hidden hand" to align themselves properly with gold through the dollar or euro.
Instead, gold now has an indirect relationship with the U.S. dollar as the price of gold in U.S. dollar terms changes as a result of a variety of economic and psychological factors.
Analysis of optimal gold holdings has normally been conducted in U.S. dollar terms since gold is traditionally denominated in the U.S. dollar.
The new, undefined, unstable dollar was not as useful to producers, savers, and investors as the previous, gold-defined dollar.
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The primary indicators of excess dollar liquidity gold, commodities and the dollar itself are signaling doubts about the Fed.
When President Nixon removed our currency from the Gold Standard, the dollar no longer had a direct relationship with gold or anything else for that matter.
The ultimate goal was for America lead the world toward a stable, international monetary system based on gold, with the dollar again defined as a unit weight of gold.
When concerns over the Eurozone have flared up, that has at times supported the U.S. dollar, which at times can put pressure on gold because it is dollar-denominated.
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If the central banks were properly calibrating liquidity to maintain parity between the statutory gold price and the market gold price of the dollar and euro, then the trade at the gold windows would remain inert.
This is why we now see gold and the dollar move up or down together.
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That's why the dollar gold price has fallen, and most commodity indexes are undergoing downward pressure.
Returning to a stable, gold-defined dollar would, among other things, reduce the demand for firearms.
Gold and the dollar index can move in tandem during times of higher market place anxiety.
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In terms of gold, the dollar lost 47% of its already-shrunken value during his first term.
This was the beginning of the end of our gold-defined dollar, and the smart money knew it.
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Gold and the dollar trade in an inverse relationship 70% of the time.
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Succinctly, gold and the dollar are both havens for investors who are risk-averse.
The right believes in free markets: low tax rates, a stable (ideally gold convertible) dollar, free trade, mild regulation.
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Alternatively, the government could have removed the excess dollars from circulation, bringing consumer prices back in line with 35 dollar gold.
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