The Gold Standard
These videos were released Oct. 20, 2014.
At one time or another, many of the major countries around the world had monetary systems based on a gold standard—currency that could be redeemed, at least in part, for gold. But not a single country does so today. The U.S. and many other economies abandoned the gold standard more than 40 years ago. Still, advocates of a gold standard periodically call for its return, saying that it would curtail or prevent inflation. St. Louis Fed economist David Andolfatto explains the gold standard and discusses its pros and cons.
Part 1: What is a Gold Standard?
Part 2: Gold Standard and Inflation
Part 3: Purchasing Power
Part 4: Benefits of a Fiat Money System
Part 5: The Gold Standard and the Central Bank
Economists and experts talk about their research, topics in the news and issues related to the Fed. Views expressed are not necessarily those of the St. Louis Fed or the Federal Reserve System.