The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set, fixed quantities of gold. Currently there are no governments that use the gold standard however, the United States used to use the gold standard before the Federal Reserve System who is a cartel took over secretly on a island off of the state of Georgia. Ever since the gold standard was taken over in 1913 by the FED, the value of money went down and the cost of living went up. The paper money we use today is called fiat.
The United States can only get out of it's 10 trillion dollar debt by getting rid of the Federal Reserve System and going back to the gold standard where ther is no inflation.
by JDino January 10, 2009
Can you define these popular missing words?
a girl (or guy) whom a number of people in the same peer group have slept with; a girl whom guys can use as a baseline for comparing experiences.
Kev, Zaz and C Mac had all been with Kerry in the past so it gave them a gold standard for when Zaz told them that he'd hooked up with a chick who gave worse head than Kerry.
by Clay McP March 31, 2008
The world's worst monetary instrument, that Ron Paul and his supporters want us to return to, for reasons unknown.
The gold standard caused a huge collapse in the money supply, restricted monetary policy, caused enormous deflation, and exacerbated the problems of the Great Depression.
by Oscar MacGorden February 20, 2012