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

Of course the price of gold never changed in the gold standard because that was the whole point of the gold standard that's if currency was convertible into gold.

当然，在金本位制度中,金子的价格从来没有变过,因为这是金本位制度,的核心所在,如果货币能够与金子转换的话。

耶鲁公开课 - 金融市场课程节选

The reason that countries dropped the gold standard was that under the effort to keep the currency convertible into gold they were worsening the depression of the 1930s.

这些国家放弃金本位制度,的原因在于，伴随着保持,货币与金子的转换功能,三十年代的大萧条正在被加深。

耶鲁公开课 - 金融市场课程节选