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, reserve and/or today:
“As I have known them passionate and fine,
The gold for which they leave the golden line
Of lyric is a golden light divine,
Never the gold of darkness from a mine.”
—Robert Frost (1874–1963)
“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)
“The greatest block today in the way of woman’s emancipation is the church, the canon law, the Bible and the priesthood.”
—Elizabeth Cady Stanton (1815–1902)