In order to keep the currency convertible they had to keep interest rates high to prevent people from demanding the gold.

为了保持货币的转换性,他们不得不将利率提高,以防人们向他们索求金子的兑换。

耶鲁公开课 - 金融市场课程节选

and don't have to go to exchange currency or whatever. So that's very nice.

然后不必兑换货币什么的。所以非常好。

来自荷兰 - SpeakingMax英语口语达人

When the date came, you would cut the coupon off and go to the bank and get your interest payment.

到息日到了以后，你就可以剪下这张息票拿到银行,去兑换利息。

耶鲁公开课 - 金融市场课程节选

Under the gold standard your dollar bill represented so many ounces of gold and you were supposed to be able to always get that gold.

在金本位制度下,你的纸币表示着,很多盎司的金子,并且你可以一直兑换那些金子。

耶鲁公开课 - 金融市场课程节选

In 1931 they dropped convertibility of the pound sterling still called pound sterling even though it's not silver it was gold.

在1931年，他们放弃了英镑的可兑换性,仍然叫做英镑的话,即便它不是银，而是金。

耶鲁公开课 - 金融市场课程节选

Then the relative price of gold versus silver shifted to the point that the gold with at the twenty-one shilling exchange rate the gold shilling was worth less the gold guinea was worth less than twenty-one shilling.

之后，金子相对于银子的相对价格,就移动到另一个值,在二十一个先令的兑换率下,金先令价值少于,金几尼的价值少于了二十一个先令的价值。

耶鲁公开课 - 金融市场课程节选

They dropped the pound convertibility.

于是他们放弃了英镑的可兑换性。

耶鲁公开课 - 金融市场课程节选

What you used to do is, every six months you'd pull out your bonds and you'd clip the coupons with a pair of scissors; you take them to a bank and they would give you cash for your coupons.

过去,你每六个月从你的债券上,用剪刀剪下息票,把它拿到银行,用息票兑换现金

耶鲁公开课 - 金融市场课程节选