Two issues related to the gold standard?
When U.S. was the gold standard that sets the price floor was there a market to set the roof? Wondering how in the year 1900 is the price of gold was determined. Wondering how the prices set by the government was decided.
There was a time that a dollar was defined in terms of gold. To instace, while a dollar equal to 1/20th declared a troy () an ounce. You could negotiate a bill of $ 20 in gold coin of $ 20 countained that an ounce of gold. It was more a stabilization of the dollar to stabilize the price of gold. Later, the dollar was defined at 1/35th of an ounce, talk about inflation! Of course, even later, the dollar was decoupled from gold. grandfather http://www.the-privateer.com/gold2.html
(2006) Ron Paul: GOLD AND THE US DOLLAR [Part 1]
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