Gold As A Reserve Today
The Swiss Franc was based on a 40% legal gold-reserve requirement from 1936, when it ended gold convertibility, until 2000. Gold reserves are held in significant quantity by many nations as a means of defending their currency, and hedging against the U.S. Dollar, which forms the bulk of liquid currency reserves. Both gold coins and gold bars are traded in liquid markets and serve as a private store of wealth.
Read more about this topic: Gold Standard
Famous quotes containing the words gold as, gold, reserve and/or today:
“for a second
Wives saw men of the explosion
Larger than in life they managed—
Gold as on a coin, or walking
Somehow from the sun towards them,”
—Philip Larkin (1922–1985)
“In relation to God, we are like a thief who has burgled the house of a kindly householder and been allowed to keep some of the gold. From the point of view of the lawful owner this gold is a gift; From the point of view of the burglar it is a theft. He must go and give it back. It is the same with our existence. We have stolen a little of God’s being to make it ours. God has made us a gift of it. But we have stolen it. We must return it.”
—Simone Weil (1909–1943)
“Her face had the seamed reserve of the old in this country [Japan]. It was a neighborhood poignantly rich in old ladies.”
—Angela Carter (1940–1992)
“Man is a question; woman is an answer. The mistake women make today is to offer themselves as answers before being questioned.”
—José Bergamín (1895–1983)