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)
“Mutual repect implies discretion and reserve even in love itself; it means preserving as much liberty as possible to those whose life we share. We must distrust our instinct of intervention, for the desire to make one’s own will prevail is often disguised under the mask of solicitude.”
—Henri-Frédéric Amiel (1821–1881)
“Whoever today speaks of human existence in terms of power, efficiency, and “historical tasks” ... is an actual or potential assassin.”
—Albert Camus (1913–1960)