query: who took the united states off the gold standard

pos: Gold standard official exchange rate of $35 per ounce; this option was not available to firms or individuals. All currencies pegged to the dollar thereby had a fixed value in terms of gold. Starting in the 1959–1969 administration of President Charles de Gaulle and continuing until 1970, France reduced its dollar reserves, exchanging them for gold at the official exchange rate, reducing US economic influence. This, along with the fiscal strain of federal expenditures for the Vietnam War and persistent balance of payments deficits, led U.S. President Richard Nixon to end international convertibility of the U.S. dollar to gold on August 15,

pos: History of the United States (1964–1980) however, there was a growing disgust among many conservative Americans over the excesses of the sexual revolution and liberalism, which would culminate in a revival of conservatism during the next decade, and a backlash against the incipient gay rights movement. Although generally regarded as a conservative, President Richard Nixon adopted many liberal positions, especially regarding health care, welfare spending, environmentalism and support for the arts and humanities. He maintained the high taxes and strong economic regulations of the New Deal era and he intervened aggressively in the economy. In August 1971, he took the nation off the gold standard of

neg: Stanley Forman Reed Americans and foreign citizens to redeem paper money and coins in gold at the its pre-Depression value, causing a run on the gold reserves of the United States. Taking the United States off the gold standard would stop the run. It would also further devalue the dollar, making American goods less expensive and more attractive to foreign buyers. In a series of moves, Roosevelt took the nation off the gold standard in March and April 1933, causing the dollar's value to sink. But additional deflation was needed. One way to do this was to raise the price of gold, but

neg: Newfoundland dollar American dollar. That opened up the opportunity for a one-way arbitrage market with the United States. It became profitable to convert Canadian dollars for gold in Newfoundland and then take the gold to the United States to sell for a profit. This brought economic pressure on Newfoundland as its gold reserves started to diminish. In December 1931, the Newfoundland government took Newfoundland off the gold standard. This was followed by legislation in the spring of 1932, which amended the "Currency Act" to prohibit the export of gold without a permit. Bank notes became legal tender, and notes were no longer

neg: First and second terms of the presidency of Franklin D. Roosevelt also received new duties. The Agricultural Adjustment Act included the Thomas Amendment, a provision that allowed the president to reduce the gold content of the dollar, coin silver currency, and issue $3 billion in fiat money. In April 1933, Roosevelt took the United States off the gold standard. Going off the gold standard allowed Roosevelt to pursue inflationary policies, which would make the operation of the NRA's programs, as well as the handling of public and private debt, easier. As part of his inflationary policies, Roosevelt refused to take part in efforts at the London Economic Conference to stabilize currency

neg: Gold Standard Act at "nine-tenths fine" (90% purity), equivalent to 23.22 grains (1.5046 grams) of pure gold. The Gold Standard Act confirmed the United States' commitment to the gold standard by assigning gold a specific dollar value (just over $20.67 per Troy ounce). This took place after McKinley sent a team to Europe to try to make a silver agreement with France and Great Britain. On April 19, 1933, the United States domestically abandoned the gold standard, whereafter independent states would remain assured of their US dollar holdings by an implied guarantee on their convertibility on demand: the Bretton Woods system formalized this

neg: Yoshifumi Fujimori for second time running. The pair took the top two spots and it was Fujimori who took the gold medal, doing so with a championship record time of 14.22 seconds. He returned as Asia's hurdler at the 1981 IAAF World Cup: his standard was somewhat below the global one and, although he not far off his season's best in eighth place, he was almost a second slower than the winner, Greg Foster of the United States. Another championship record followed the year after, this time at the Japan Championships with a run of 14.13 seconds. The time stood for seven

neg: History of the United States dollar standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard ... Thus the United States moved to a gold standard, making both gold and silver the legal-tender coinage of the United States, and guaranteed the dollar as convertible to 1.5 g (23.22 grains) of gold. The gold standard was suspended twice during World War I, once fully and then for foreign exchange. At the onset of the war, U.S. corporations had large debts payable to European entities, who began liquidating their debts in

neg: Gold standard transfer contracted the US money supply. The foreign loans became questionable once Britain, Germany, Austria and other European countries went off the gold standard in 1931 and weakened confidence in the dollar. The forced contraction of the money supply resulted in deflation. Even as nominal interest rates dropped, deflation-adjusted real interest rates remained high, rewarding those who held onto money instead of spending it, further slowing the economy. Recovery in the United States was slower than in Britain, in part due to Congressional reluctance to abandon the gold standard and float the U.S. currency as Britain had done. In the

neg: History of the Canadian dollar standard, British and United States gold coins, government of Canada notes, and Canadian coins were legal tender. Bank notes ceased to be legal tender. However, the return was short-lived. Britain went off the gold standard in September 1931, during the depths of the Great Depression. Canada followed suit by prohibiting export of gold on October 31, 1931, unofficially taking Canada off the gold standard. A year and a half later, the federal government ended the convertibility of government notes for gold. It was expected to be a temporary measure until the world economic situation improved, but Canada has never returned

neg: History of banking in the United States Federal Home Loan Bank Board(FHLBB). To deal with deflation, the nation went off the gold standard. In March and April in a series of laws and executive orders, the government suspended the gold standard for United States currency. Anyone holding significant amounts of gold coinage was mandated to exchange it for the existing fixed price of US dollars, after which the US would no longer pay gold on demand for the dollar, and gold would no longer be considered valid legal tender for debts in private and public contracts. The dollar was allowed to float freely on foreign exchange markets

neg: Gold standard in 1929 and lasted for about a decade. In the United States, adherence to the gold standard prevented the Federal Reserve from expanding the money supply to stimulate the economy, fund insolvent banks and fund government deficits that could "prime the pump" for an expansion. Once off the gold standard, it became free to engage in such money creation. The gold standard limited the flexibility of the central banks' monetary policy by limiting their ability to expand the money supply. In the US, the central bank was required by the Federal Reserve Act (1913) to have gold backing 40% of

neg: History of monetary policy in the United States that sound money produced by a gold standard would restore prosperity. Bimetallism and "Free Silver" were demanded by William Jennings Bryan who took over leadership of the Democratic Party in 1896, as well as the Populist and Silver Republican Parties. The Republican Party nominated William McKinley on a platform supporting the gold standard which was favored by financial interests on the East Coast. A faction of Republicans from silver mining regions in the West known as the Silver Republicans endorsed Bryan. Bryan gave his famous "Cross of Gold" speech at the National Democratic Convention on July 9, 1896. However, his

neg: United States at the 2004 Summer Olympics Standard). The team was selected based on the results of the 2004 United States Olympic Trials. Adam Nelson originally claimed a silver medal in men's shot put. On December 5, 2012, the International Olympic Committee and the IAAF stripped off Ukrainian shot putter Yuriy Bilonoh's gold medal after drug re-testings of his samples were discovered positive. Following the announcement of Bilonoh's disqualification, Nelson's medal was upgraded to gold. Sprinter Crystal Cox, who ran in the preliminary round of the women's 4 × 400 m relay, admitted to using anabolic steroids during her three-year sporting career. On July 24, 2012, IOC

neg: Presidency of Richard Nixon the power to impose wage and price controls, though the Democratic congressional leadership, knowing Nixon had opposed such controls through his career, did not expect Nixon to actually use the authority. With inflation unresolved by August 1971, and an election year looming, Nixon convened a summit of his economic advisers at Camp David. He then announced temporary wage and price controls, allowed the dollar to float against other currencies, and ended the convertibility of the dollar into gold. Nixon's monetary policies effectively took the United States off the gold standard and brought an end to the Bretton Woods system, a

neg: William McKinley 1896 presidential campaign to resign and earn the money as a lawyer. He was rescued by Hanna and other wealthy supporters, who raised the money to pay the loans. According to McKinley biographer Kevin Phillips, the governor's backers "paid off the cosigned notes so that McKinley—by now, the probable next president—did not need to go back to practicing law". The public sympathized with McKinley for his financial trouble, and he was easily re-elected as governor in late 1893. At that time, the United States, for all practical purposes, was on the gold standard. Many Democrats, and some Republicans, felt that the gold standard

neg: Silver standard the United States until passage of the Bland–Allison Act on February 28, 1878, requiring the US Treasury to purchase domestic silver bullion to be minted into legal tender coins co-existent with gold coins. Silver Certificate Series 1878 was issued to join the gold certificates already in circulation. By acts of Congress in 1933, including the Gold Reserve Act and the Silver Purchase Act of 1934, the domestic economy was taken off the gold standard and placed on the silver standard for the first time. The Treasury Department was re-empowered to issue paper currency redeemable in silver dollars and bullion, thereby

neg: William Jennings Bryan lost its potency as an electoral issue in the years following 1896. In 1900, President McKinley signed the Gold Standard Act, which put the United States on the gold standard. Bryan remained popular in the Democratic Party, and his supporters took control of party organizations throughout the country, but he initially resisted shifting his political focus from free silver. Foreign policy emerged as an important issue due to the ongoing Cuban War of Independence against Spain, as many Americans supported Cuban independence. After the explosion of the "USS Maine" in Havana Harbor, the United States declared war on Spain in

neg: Redemption movement United States went bankrupt when it abandoned the gold standard in 1933 and started using its citizens as collateral so that it could borrow money. Supposed procedures for using the nonexistent "straw man" funds include: When participants find themselves worse off after following the procedures, they are often told that they have followed them incorrectly. Several people who have participated in redemption schemes have been convicted. The convictions include forgery, providing false information, passing fictitious financial instruments, defrauding the United States, counterfeiting, impeding administration, filing false tax returns, money laundering and wire fraud. William Oscar Harris, who executed a redemption

neg: War Revenue Act of 1898 its introduction. The committee discussed the bill on April 26 and April 27, and reported it favorably to the House floor on April 27. The same day, the House debated and passed the bill. H.R. 10100 was reported to the United States Senate, where it was referred to the Committee on Finance. The committee reported an amended bill to the Senate floor on May 12. Democrats and so-called "Silver Republicans" (members of the Republican Party who wished to devalue the dollar by moving the country off the gold standard to the silver standard) united to create a majority on the

neg: History of the United States dollar were retired starting in November and the gold standard was restored when the New York Stock Exchange re-opened in December 1914. As the United States remained neutral in the war, it remained the only country to maintain its gold standard, doing so without restriction on import or export of gold from 1915 to 1917. During the participation of the United States as a belligerent, President Wilson banned gold export, thereby suspending the gold standard for foreign exchange. After the war, European countries slowly returned to their gold standards, though in somewhat altered form. During the Great Depression, every major currency

neg: Silver standard out of the economy. At the same time there was a dramatically expanded need for credit, and large banks were being chartered in various states, including those in Japan by 1872. The need for stability in monetary affairs would produce a rapid acceptance of the gold standard in the period that followed. The Coinage Act of 1873, enacted by the United States Congress in 1873, embraced the gold standard and de-monetized silver. Western mining interests and others who wanted silver in circulation labeled this measure the "Crime of '73". For about five years, gold was the only metallic standard in

neg: Bland–Allison Act the West, farmers who believed an inclusion of silver would increase crop prices, and debtors who believed would alleviate their debts. Although the free silver movement ended, the debate of inflation and monetary policy continues to this day. The Fourth Coinage Act acknowledged the gold standard over silver. Those who advocated for silver labeled this act as the "Crime of '73". As a result of demonetized silver, gold became the only metallic standard in the United States and became the default standard. The price of gold was more stable than that of silver, largely due to silver discoveries in Nevada

neg: Gold bloc it difficult to maintain profitability and suffered from massive capital flight to the United States. Belgium and Luxembourg gave up the gold standard in March 1935 and devalued their currencies. In September 1936, the United States, Great Britain, and France signed the Tripartite Agreement, and finally the remaining gold bloc countries abandoned the gold standard. Economists writing "A Program for Monetary Reform" (1939) indicated Scandinavian nations that abandoned the gold standard in 1931 recovered from the Great Depression earlier than the gold bloc countries. Gold bloc The gold bloc refers to the seven countries led by France that stuck to

neg: Coin's Financial School million in interests to England every year, an amount that is becoming harder to pay off as a result of the Panic of 1893. He also criticized the proponents of the gold standard within the United States, who believe England will return to bimetallism on its own. That was despite the fact that England raked in major profits by forcing other nations to make transactions redeemable in gold only. In making these points, Coin called for a trade war with England, with promises of the backing of fellow silver nations such as France, most of South America, India and Mexico.

neg: Coinage Act of 1873 some officials worried that the increased deposits would cause silver to drive gold from circulation as predicted by Gresham's law, endangering the gold standard. As it had been two decades since much silver was regularly deposited for striking into coins, the fact that the United States had been on a bimetallic standard since 1792 was often forgotten. The gold standard was seen as the only possible choice, and many people assumed that the United States was on that standard, which had been adopted by strong nations like the United Kingdom (1816) and the German Empire (1871). Losses of nearly $250,000

neg: United States Soccer Federation which the United States won 5–4. The celebration by Brandi Chastain after she converted the winning penalty, in which she took off her shirt,is one of the more famous images in U.S. women's sports. U.S. Soccer Federation oversees and promotes the development of the following national youth teams: The U.S. Paralympic Soccer Team is an elite level program for men that selects players from across the United States in preparation for International standard competition. The team competes in 7-a-side football. The squad is composed of athletes who have cerebral palsy or have suffered a stroke or traumatic brain injury. The

neg: Gold standard in 1865, and the United States and Germany ("de jure") in 1873 adopted gold. The United States used the eagle as its unit, Germany introduced the new gold mark, while Canada adopted a dual system based on both the American gold eagle and the British gold sovereign. Australia and New Zealand adopted the British gold standard, as did the British West Indies, while Newfoundland was the only British Empire territory to introduce its own gold coin. Royal Mint branches were established in Sydney, Melbourne, and Perth for the purpose of minting gold sovereigns from Australia's rich gold deposits. The gold

neg: Softball at the Summer Olympics Sydney, Australia. Countries competing at the 2000 Summer Olympics included the United States, Japan, Australia, China, Italy, New Zealand, Cuba and Canada. The United States won the gold medal for the second time. The Games were held in Athens, Greece. Countries competing at the 2004 Summer Olympics included the United States, Australia, Japan, China, Canada, Taiwan, Greece and Italy. Only one hitter at the 2004 game was able to score a run off the American team's pitchers. That hitter was Stacey Porter of Australia. The United States (USA) won the gold while Australia (AUS) took silver and Japan (JPN), the

neg: History of banking in the United States "Free Silver" were demanded by William Jennings Bryan who took over leadership of the Democratic Party in 1896, as well as the Populist and Silver Republican Parties. The Republican Party nominated William McKinley on a platform supporting the gold standard which was favored by financial interests on the East Coast. A faction of Republicans from silver mining regions in the West known as the Silver Republicans endorsed Bryan. Bryan gave the famous "Cross of Gold" speech at the National Democratic Convention on July 9, 1896. However, his presidential campaign was ultimately unsuccessful; this can be partially attributed to the discovery

neg: Gold standard I the United States, which had been a net debtor country, had become a net creditor by 1919. The gold specie standard ended in the United Kingdom and the rest of the British Empire at the outbreak of World War I, when Treasury notes replaced the circulation of gold sovereigns and gold half sovereigns. Legally, the gold specie standard was not repealed. The end of the gold standard was successfully effected by the Bank of England through appeals to patriotism urging citizens not to redeem paper money for gold specie. It was only in 1925, when Britain returned to the

neg: William H. Woodin deposits. This preceded the creation of deposit insurance and the Federal Deposit Insurance Corporation with the passage of the Glass-Steagall Act of 1933. Woodin also presided over the Roosevelt Administration's withdrawal from the international monetary conference in London and the decision to take the United States off the international gold standard there. While he was the Secretary of the Treasury, the Administration also began the decision-making process that eventually led to the administration's decision to buy all the gold in private hands in the United States (other than that used by dentists and jewelers) and then to raise the dollar

neg: Economic history of the United States the nation, and the government experimented with wage and price controls under President Nixon. The Bretton Woods Agreement collapsed in 1971–1972, and President Nixon closed the gold window at the Federal Reserve, taking the United States entirely off the gold standard. President Gerald Ford introduced the slogan, "Whip Inflation Now" (WIN). In 1974, productivity shrunk by 1.5%, though this soon recovered. In 1976, Jimmy Carter won the Presidency. Carter would later take much of the blame for the even more turbulent economic times to come, though some say circumstances were outside his control. Inflation continued to climb skyward. Productivity growth

neg: Silverite Silverites advocated free coinage of silver. They wanted to lower the gold standard of the United States to silver therefore allowing inflation of the money supply. Many Silverites were in the West, where silver was mined. Advocates predicted that if silver were used as the standard of money, they would be able to pay off all of their debt. The debt amount would stay the same but they would have more silver money with which to pay it. The Silverites' main presidential candidate was William Jennings Bryan, whose famous Cross of Gold speech argued in their favor. He ran for

neg: History of the United States dollar abandoned the gold standard. Among the earliest, the Bank of England abandoned the gold standard in 1931 as speculators demanded gold in exchange for currency, threatening the solvency of the British monetary system. This pattern repeated throughout Europe and North America. In the United States, the Federal Reserve was forced to raise interest rates in order to protect the gold standard for the US dollar, worsening already severe domestic economic pressures. After bank runs became more pronounced in early 1933, people began to hoard gold coins as distrust for banks led to distrust for paper money, worsening deflation and depleting

neg: Rowing at the 2008 Summer Olympics – Men's eight their "Final A" finish. The "Final B" competition determined who places seventh and eight in the event's final ranking. The winners of the heats, Canada and Great Britain, took the gold and silver medals; the winner of the repechage, United States, took the bronze. Canada's Olympic M8+ rowing championship followed their 2007 World M8+ Rowing Championship, making the Canadian crew the first world champion in 35 years to follow up with Olympic gold. Canada finished in 5:23.89, about four seconds off the world record time of 5:19.85 set by the U.S. team during the second heat of the Men's eight

neg: History of monetary policy in the United States which would trade at par to specie, and prevent coins from leaving circulation. The establishment of central banks by industrializing nations was associated then with the desire to maintain the nation's peg to the gold standard, and to trade in a narrow band with other gold-backed currencies. To accomplish this end, central banks as part of the gold standard began setting the interest rates that they charged, both their own borrowers, and other banks who required liquidity. The maintenance of a gold standard required almost monthly adjustments of interest rates. During the 1870–1920 period, the industrialized nations set up central

neg: Gold standard century, some silver standard countries began to peg their silver coin units to the gold standards of the United Kingdom or the United States. In 1898, British India pegged the silver rupee to the pound sterling at a fixed rate of 1s 4d, while in 1906, the Straits Settlements adopted a gold exchange standard against sterling, fixing the silver Straits dollar at 2s 4d. Around the start of the 20th century, the Philippines pegged the silver peso/dollar to the U.S. dollar at 50 cents. This move was assisted by the passage of the Philippines Coinage Act by the United States

neg: History of the United States dollar created a political controversy. Due to the large influx of silver, the value of silver in the nation's coinage dropped precipitously. On one side were agrarian interests such as the United States Greenback Party that wanted to retain the bimetallic standard in order to inflate the dollar, which would allow farmers to more easily repay their debts. On the other side were Eastern banking and commercial interests, who advocated sound money and a switch to the gold standard. This issue split the Democratic Party in 1896. It led to the famous "cross of gold" speech given by William Jennings Bryan,

neg: 2000 United States Olympic Trials (track and field) a place on the Olympic team. In the event that a leading athlete did not hold an "A" standard, or an athlete withdrew, the next highest finishing athlete with an "A" standard was selected instead. Maurice Greene, who won the 100 meter trial, and Michael Johnson, who won the 400 meter trial and was the defending 200 meter gold medallist, both pulled hamstrings in the 200 meter final. Neither qualified in that event. Key: 2000 United States Olympic Trials (track and field) The 2000 United States Olympic Trials for track and field were held at Hornet Stadium in Sacramento, California.

neg: History of the United States dollar and may have inspired many of the themes in "The Wizard of Oz". Despite the controversy, the status of silver was slowly diminished through a series of legislative changes from 1873 to 1900, when a gold standard was formally adopted. The gold standard survived, with several modifications, until 1971. Bimetallism persisted until March 14, 1900, with the passage of the Gold Standard Act, which provided that: ... the dollar consisting of twenty-five and eight-tenths grains (1.67 g) of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the

neg: Gold Standard Act Gold Standard Act The Gold Standard Act of the United States was passed in 1900 (approved on March 14) and established gold as the only standard for redeeming paper money, stopping bimetallism (which had allowed silver in exchange for gold). It was signed by President William McKinley. The Act made the "de facto" gold standard in place since the Coinage Act of 1873 (whereby debt holders could demand reimbursement in whatever metal was preferred—usually gold) a "de jure" gold standard alongside other major European powers at the time. The Act fixed the value of the dollar at grains of gold

neg: United States dollar tariffs. However, silver and gold coins continued to be issued, resulting in the depreciation of the newly printed notes through Gresham's Law. In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases. In 1875, Congress passed the Specie Payment Resumption Act, requiring the Treasury to allow US Notes to be redeemed for gold after January 1, 1879. The Treasury ceased to issue United States Notes in 1971. The Gold Standard Act of 1900 abandoned the bimetallic standard and

neg: Panic of 1896 speech, but his intense rhetoric resonated among many Americans who felt that a second, less valuable, form of legal tender was necessary for less wealthy Americans, and he quickly became the front-runner of the Populist and Democratic parties. Republican Party candidate William McKinley wished to remain on the gold standard, unlike his opponent, Bryan. Many bankers and businessmen were disturbed by Bryan's silver rhetoric, and McKinley was able to win the election. McKinley kept the United States on the gold standard by signing the Gold Standard Act in 1900, lessening the strength of both the bimetallism movement and public fears

neg: History of monetary policy in the United States the gold standard. In March and April 1933, in a series of laws and executive orders, the government suspended the gold standard for United States currency. Anyone holding significant amounts of gold coinage was mandated to exchange it for the existing fixed price of US dollars, after which the US would no longer pay gold on demand for the dollar, and gold would no longer be considered valid legal tender for debts in private and public contracts. The dollar was allowed to float freely on foreign exchange markets with no guaranteed price in gold, only to be fixed again at

neg: Gold standard to Congress the value of a decimal system. This system would also apply to monies in the United States. The question was what type of standard: gold, silver or both. The United States adopted a silver standard based on the Spanish milled dollar in 1785. From 1860 to 1871 various attempts to resurrect bi-metallic standards were made, including one based on the gold and silver franc; however, with the rapid influx of silver from new deposits, the expectation of scarce silver ended. The interaction between central banking and currency basis formed the primary source of monetary instability during this period.

neg: Sovereign (English coin) The first sovereigns were of 23-carat (95.83%) gold and weighed 240 grains, or half a troy ounce. King Henry VIII lessened the gold content to 22 carats, or 91.67%, and under the name of crown gold this became the gold coin standard in both the British Isles and the United States. The coin's weight was reduced several times until it was last minted in 1604. Unites, Laurels, broads, and guineas later took its place. The inscription reads - abbreviation for (Latin for "This is the Lord's doing and it is marvellous in our eyes", from Psalm 118). Sovereign (English coin)

neg: Global financial system The classical gold standard was established in 1821 by the United Kingdom as the Bank of England enabled redemption of its banknotes for gold bullion. France, Germany, the United States, Russia, and Japan each embraced the standard one by one from 1878 to 1897, marking its international acceptance. The first departure from the standard occurred in August 1914 when these nations erected trade embargoes on gold exports and suspended redemption of gold for banknotes. Following the end of World War I on November 11, 1918, Austria, Hungary, Germany, Russia, and Poland began experiencing hyperinflation. Having informally departed from the standard,

neg: United States at the 1976 Summer Olympics United States at the 1976 Summer Olympics The United States competed at the 1976 Summer Olympics in Montreal, Quebec, Canada. 396 competitors, 278 men and 118 women, took part in 189 events in 19 sports. The United States finished third in the final medal rankings, with 34 gold and 94 total medals. After winning both gold medals in the first modern Olympic archery contest at the 1972 Summer Olympics, the US returned only one of the six archers who had competed in Munich, Linda Myers. Even though neither of the reigning gold medallists competed in Montreal, the United States again

neg: Silver standard payments while exports were paid for with gold. As a consequence, silver flowed out of the country and gold flowed in, leading to a situation where Great Britain was effectively on a gold standard. In 1816, the gold standard was adopted officially, with the silver standard reduced to 66 shillings (66/-, 3.3 pounds), rendering silver coins a "token" issue (i.e., not containing their value in precious metal). The economic power of Great Britain was such that its adoption of a gold standard put pressure on other countries to follow suit. The United States adopted a silver standard based on the

neg: Gold Standard Act international arrangement at the conclusion of World War II, before the Nixon shock unilaterally cancelled direct international convertibility of the US dollar to gold in 1971. Gold Standard Act The Gold Standard Act of the United States was passed in 1900 (approved on March 14) and established gold as the only standard for redeeming paper money, stopping bimetallism (which had allowed silver in exchange for gold). It was signed by President William McKinley. The Act made the "de facto" gold standard in place since the Coinage Act of 1873 (whereby debt holders could demand reimbursement in whatever metal was preferred—usually

neg: Chevrolet Camaro (third generation) available: Sport Coupe, Berlinetta, and Z28. 173,000 Camaros were sold in the United States in 1982. 12 percent of buyers took the four-cylinder, 37 percent the V6, while 51 percent opted for the V8. The Sport Coupe came standard with the LQ9 four-cylinder engine. The LC1 V6 and the LG4 V8 were optional. Dog dish-style hubcaps were standard; full wheel covers were optional as were steel, five-spoke 14x7-inch body-colored rally wheels. The Berlinetta came with the standard 2.8 LC1 V6 or the optional 5.0 LG4 V8. The Berlinetta came standard with its own unique 14x7-inch finned aluminum wheel with gold

neg: Coinage Act of 1853 currency in the United States would only truly be resolved in 1970 when the U.S. dollar was removed from its peg to the gold standard. Coinage Act of 1853 The Coinage Act of 1853, 10 Stat. 160, was a piece of legislation passed by the United States Congress which lowered the silver content of the silver half dime, dime, quarter dollar, and half dollar. Although intending to stabilize the country's silver shortage, it, in effect, pushed the United States closer to abandoning bimetallism entirely and adopting the gold standard. Smaller silver denominations in the United States were disappearing as the

neg: Great Depression in the United States expansionary monetary policy. High interest rates needed to be maintained in order to attract international investors who bought foreign assets with gold. However, the high interest also inhibited domestic business borrowing. The U.S. interest rates were also affected by France's decision to raise their interest rates to attract gold to their vaults. In theory, the U.S. would have two potential responses to that: Allow the exchange rate to adjust, or increase their own interest rates to maintain the gold standard. At the time, the U.S. was pegged to the gold standard. Therefore, Americans converted their dollars into francs to buy

neg: United States debt-ceiling crisis of 2011 lost up to four percent in value, the largest drop since July 2009, during the global financial crisis that was precipitated in part by the United States housing bubble and the corresponding losses by holders of mortgages and mortgage-backed securities. The commodities market also took losses, with average spot crude oil prices falling below $US86 a barrel. The price of gold fell, as deepening losses on Wall Street prompted investors to sell. On August 5, 2011, Standard & Poor's credit rating agency downgraded the long-term credit rating of the United States government for the first time in its history, from

neg: 1896 United States elections in the aftermath of the Panic of 1893, and featured a fierce debate between advocates of bimetallism ("free silver") and supporters of the gold standard. In the Presidential election, Republican former Governor William McKinley of Ohio defeated Democratic former Representative William Jennings Bryan of Nebraska. McKinley took the Republican nomination on the first ballot, while Bryan took the Democratic nomination on the fifth ballot (at age 36, he became youngest presidential nominee of a major party), defeating former Missouri Representative Richard P. Bland and several other candidates. Bryan's Cross of Gold speech, in which he advocated for "free silver," helped

neg: Cross of Gold speech the nation's monetary standard. The gold standard, which the United States had effectively been on since 1873, limited the money supply but eased trade with other nations, such as the United Kingdom, whose currency was also based on gold. Many Americans, however, believed that bimetallism (making both gold and silver legal tender) was necessary for the nation's economic health. The financial Panic of 1893 intensified the debates, and when Democratic President Grover Cleveland continued to support the gold standard against the will of much of his party, activists became determined to take over the Democratic Party organization and nominate a

neg: Silver standard Potosi, Mexico, and Lima, Peru. The British gold standard initially extended to some of the British colonies, including the Australasian and Southern African colonies, but not to its North American colonies, British India, or to Southeast Asia. The Province of Canada adopted a gold standard in 1853, as did Newfoundland in 1865. In 1873, Imperial Germany changed over to the gold standard in conjunction with the new gold mark coin. The United States changed over to gold "de facto" in the same year, and over the next 35 years, all other nations changed to gold, leaving only China and the

neg: 1912 Summer Olympics United States team won fourteen. 64-year-old Oscar Swahn, part of the Swedish single shot running deer team, is still the oldest gold medal winner in Olympic history. In swimming, Hawaiian Duke Kahanamoku won the 100 metre freestyle for the United States, who also saw Harry Hebner win gold in the 100 metre backstroke. The Canadian team also took two gold medals, both by George Hodgson in the 400 and 1,500 metre events. The German swimming team won all three medals in the 200 metre breaststroke, with the gold going to Walter Bathe, who won a further gold in the 400

neg: Great Depression in the Netherlands the Netherlands. As in most other affected countries, the end of the Great Depression in the Netherlands was gradual, but in the Netherlands, recovery did not start before 1936, when the country abandoned the gold standard. By 1933, only a few European states still remained with the gold standard, while among others the United Kingdom and the United States had abandoned it. By cooperating in international negotiation as a "gold bloc" and lowering trade restrictions among themselves these states tried to survive harsh foreign competition without accepting currency devaluation. Internal trade failed to solve their problems, however, and by 1935

neg: The Gilded Six Bits a happy couple again. "The Gilded Six-Bits:" The short story was coincidentally published the year the United States went off the gold standard and Franklin D. Roosevelt asked loyal Americans to exchange their gold for silver and paper money. This type of money had significance in the story in which it personifies the character, Otis D. Slemmons as having gold money and symbolizes him being known as a counterfeit. Appearance vs. reality: Hurston dramatizes this theme by portraying that objects are covered to make them better than they are, which can be seen with the gilded half-dollar. Also, people are

neg: Global financial system most currencies were freed from exchange rate fixing and allowed to float. Most countries throughout this period sought to gain national advantages and bolster exports by depreciating their currency values to predatory levels. A number of countries, including the United States, made unenthusiastic and uncoordinated attempts to restore the former gold standard. The early years of the Great Depression brought about bank runs in the United States, Austria, and Germany, which placed pressures on gold reserves in the United Kingdom to such a degree that the gold standard became unsustainable. Germany became the first nation to formally abandon the post-World

neg: Gold standard some other commodity-based standard, or a fiat currency with fixed rules for determining the quantity of money—is considerably less important. The gold standard is supported by many followers of the Austrian School of Economics, free-market libertarians and some supply-siders. In the United States, strict constitutionalists object to the government issuing fiat currency through central banks. Some gold-standard advocates also call for a mandated end to fractional-reserve banking. Many similar alternatives have been suggested, including energy-based currencies, collections of currencies or commodities, with gold as one component. Former congressman Ron Paul is a long-term, high-profile advocate of a gold standard, but

neg: Ice hockey in the United States Championship. Canada took the gold medal and the United States took the silver. Canada took the gold medal again in the 1924 winter Olympics. This was the first time hockey was considered an Olympic sport. In 1936, Great Britain gave Canada their first big loss in international hockey. Great Britain took the gold medal. The USSR finally joined in on Olympic ice hockey in 1956. They ended up winning the gold medal that year. (Fitzpatrick, 2012) In 1960 and 1980 the United States won the ice hockey Olympic Games. The 1980 ice hockey Olympics was known as "Miracle on Ice".

neg: 2015 CONCACAF Gold Cup while the United States, the defending champions, lost in the semifinals to Jamaica. The competition included a third place match for the first time since 2003, in which Panama defeated the United States. The 2015 CONCACAF Gold Cup was used for qualification for the 2017 FIFA Confederations Cup, to be played in Russia, and the Copa América Centenario, to be played in the United States in 2016. As champions of the 2015 CONCACAF Gold Cup, Mexico qualified for a one-off play-off match against the United States, the champion of the 2013 CONCACAF Gold Cup, to decide which team will represent

neg: Panic of 1896 about the Gold Standard by his successful navigation out of the Panic of 1896, as the economy recovered by 1900. The Gold Standard Act formally adopted gold as the lone standard for redeeming paper money in the United States, effectively stopping bimetallism in its tracks. The economic hard times caused debates over whether America should remain on the gold standard or use a bimetallic standard. The continued economic hardships after the Panic of 1893 and the 1895 Morgan Bonds episode into the Panic of 1896 increased American worry about the strength of the American economy. Many members of the Populist

neg: Belanova Mexico, Ibero-America, and the United States. Belanova was named 'Best New Band' by Yahoo! Spain, following the release of the album in early 2008. "Baila Mi Corazón" reached the top of Spain's airplay charts, but album sales never took off. The album was certified Oro (Latin Gold) in the United States after selling over 100,000 copies and the band announced their first headlining tour across the United States with 20 dates. "One, Two, Three, Go! (1, 2, 3, Go!)" was featured as a free "Single of the Week" on the Apple iTunes music store in the United States, beginning the

neg: Coin's Financial School cultural ancestor. Harvey would go on to assist William Jennings Bryan's campaign in his home state of Arkansas, where Bryan won easily. Bryan would sweep the South and the Rockies, but William McKinley, who adopted gold standard, would sweep the more populous Northeast as well as the Great Lakes. McKinley won the election, 271-176. At that point, the United States had emerged from the Panic of 1893, and the debate over bimetallism was calming. McKinley's administration passed the Gold Standard Act in 1900, establishing the dollar as 23.22 grains of pure gold, and the law would stay in place until

neg: Gold standard coins left circulation, exported to pay for the debts taken on to finance the American Revolutionary War. In 1806 President Jefferson suspended the minting of silver coins. This resulted in a derivative silver standard, since the Bank of the United States was not required to fully back its currency with reserves. This began a long series of attempts by the United States to create a bi-metallic standard. The intention was to use gold for large denominations, and silver for smaller denominations. A problem with bimetallic standards was that the metals' absolute and relative market prices changed. The mint ratio (the

neg: Currency 20th century and continuing across the world until the late 20th century, when the regime of floating fiat currencies came into force. One of the last countries to break away from the gold standard was the United States in 1971, an action known as the Nixon shock. No country has an enforceable gold standard or silver standard currency system. A banknote (more commonly known as a bill in the United States and Canada) is a type of currency, and commonly used as legal tender in many jurisdictions. With coins, banknotes make up the cash form of all money. Banknotes are

neg: Fixed exchange-rate system central bank must always be prepared to give out gold in exchange for coin and currency upon demand, it must maintain gold reserves. Thus, this system ensures that the exchange rate between currencies remains fixed. For example, under this standard, a £1 gold coin in the United Kingdom contained 113.0016 grains of pure gold, while a $1 gold coin in the United States contained 23.22 grains. The mint parity or the exchange rate was thus: R = $/£ = 113.0016/23.22 = 4.87. The main argument in favor of the gold standard is that it ties the world price level to

neg: Flag of the United States Marine Corps of some type is referred to as a standard. When the national flag is flown from a ship, it is referred to as the national ensign. Flag of the United States Marine Corps The flag of the United States Marine Corps (also known as the standard or battle color) is the flag used to represent the U.S. Marine Corps, as well as its subsidiary units and formations. The official flag is scarlet with the Corps emblem in gray and gold. It was adopted on 18 January 1939, although Marine Corps Order 4 had established scarlet and gold as the official

neg: Contraction Act of 1866 Notes, issued In July 1861 (Congress authorized $50,000,000 in Demand Notes) and in the form of United States Notes issued between 1862–1865. 11 months after Lincoln assassination (April 14th 1865), Congress of the united states created the Contraction Act of 1866 to lower the price level so they could reinstate the gold standard. Contraction Act of 1866 Contraction Act of 1866 was an act passed by Congress of the united states on April 12 1866 intended to lower the price level so they could reinstate the gold standard. Abraham Lincoln created the Greenbacks in 1865, they were a currency of

neg: William Jennings Bryan 1896 presidential campaign was worth just over half the face value/ Someone who presented ten dollars in silver bullion would receive back almost twice that in silver coin. Advocates believed these proposals would lead to prosperity, while opponents warned that varying from the gold standard (which the United States had, effectively, used since 1873) would cause problems in international trade. The 1878 Bland-Allison Act and the Sherman Silver Purchase Act of 1890 required the government to buy large quantities of silver and strike it into coin. They had been passed as compromises between free silver and the gold standard. Bryan, who had been

neg: Long Depression who advocated the continuance of government-issued fiat money (United States Notes) to avoid deflation and promote exports. The western US states were outraged—Nevada, Colorado, and Idaho were huge silver producers with productive mines, and for a few years mining abated. Resumption of silver dollar coinage was authorized by the Bland-Allison Act of 1878. The resumption of the US government buying silver was enacted in 1890 with the Sherman Silver Purchase Act. Monetarists believe that the 1873 depression was caused by shortages of gold that undermined the gold standard, and that the 1848 California Gold Rush, 1886 Witwatersrand Gold Rush in

neg: Presidencies of Grover Cleveland equivalent in gold, taxpayers paid their government bills in silver, while international creditors demanded payment in gold, resulting in a depletion of the nation's gold supply. Bimetallism tended to result in inflation, which in turn made it easier for debtors to pay off their loans and increased agricultural prices. It was thus popular in many agrarian states. Cleveland saw monetary policy as both an economic and moral issue; he thought that adherence to the gold standard would ensure a stable currency, and also felt that those who had extended loans should not be penalized by rising inflation. Cleveland and Treasury

neg: Great Depression in the United States standard. The announcement prohibited gold exports, and prohibited financial institutions from converting money and deposits into gold coins and ingots. The action prevented the gold outflow. Soon, the Roosevelt government weakened the connection with gold once again. Thomas amendment to the Agricultural Relief Act to the gave to the President power to reduce the dollar's gold content by as much as 50%. The President Roosevelt also used the silver standard instead of gold to exchange dollars, it determined by the price of the bank. In April 1933, Roosevelt decided to abolish the gold standard through the New Deal. He abandoned

neg: History of the United States (1918–1945) and $1 billion in hoarded currency and gold flowed back into them within a month. The immediate banking crisis was over. The Glass–Steagall Act established various provisions designed to prevent another Great Depression from happening again. These included separating investment from savings and loan banks and forbidding the purchase of stock with no money down. Roosevelt also removed the currency of the United States from the gold standard, which was widely blamed for limiting the money supply and causing deflation, although the silver standard remained until 1971. Private ownership of gold bullion and certificates was banned and would remain so

neg: Shooting at the 2008 Summer Olympics – Men's skeet from the United States took a one-hit lead in the qualification round. In the final round, Norway's Tore Brovold, who already shared the world record with Hancock, eliminated this gap by means of a perfect 25, thus also sharing the Olympic final record of 145 hits with him. Hancock came back to win the shoot-off for the gold medal. One hit behind the duo, Anthony Terras of France won the bronze medal shoot-off against Antonis Nikolaidis, denying Cyprus its first-ever Olympic medal. Prior to this competition, the existing world and Olympic records were as follows. OR Olympic record – Q

neg: History of the United States Republican Party G. Blaine of Maine, pushed for reform of the Civil service. Independents who opposed the spoils system altogether were called "Mugwumps". In 1884, Mugwumps rejected James G. Blaine as corrupt and helped elect Democrat Grover Cleveland, though most returned to the party by 1888. As the Northern post-war economy boomed with industry, railroads, mines and fast-growing cities as well as prosperous agriculture, the Republicans took credit and promoted policies to keep the fast growth going. The Democratic Party was largely controlled by pro-business Bourbon Democrats until 1896. The GOP supported big business generally, the gold standard, high tariffs and generous

neg: Le Shok (Treadwell) joined as bassist. The band released four seven-inch records on various labels, and in 2000, Gold Standard Laboratories released the band's sole album, "We Are Electrocution", and the band went on a nationwide tour of the United States. Shitty Shaan, who had filled in for Darryl Licht at shows he couldn't make, was eventually brought on full-time as a second guitarist. When Darryl left the band, Shaan switched to keyboards. Material recorded while the band was a six-piece found its way onto various vinyl releases. When Andrew subsequently left the band, Shaan took over guitar duties and John Fones

neg: Neil Brooks at the halfway point. Australia and the United States had broken away from the field, which was now the best part of two seconds in arrears. However, the Australian lead was short-lived. Matt Biondi took 0.59 s from Delany and Gaines took another 0.13 s from Stockwell, as the United States won in a world record time of 3 m 19.03 s. Australia were 0.65 s behind with Sweden a further 2.99 s in arrears. Brooks remained adamant that either he or Stockwell should have led off, stating that "the gold was there for the taking". Brooks collected a bronze

neg: Silver certificate (United States) Silver certificate (United States) Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard. The certificates were initially redeemable for their face value of silver dollar coins and later (for one year – June 24, 1967 to June 24, 1968) in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and

neg: Lewis Lehrman James Grant, editor of "Grant's Interest Rate Observer", with whom he testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology in March 2011 and September 2012. Lehrman launched the Gold Standard Now in 2011 as an aggregator of monetary policy news and to advocate that "America should lead by unilateral resumption of the gold standard." In 2013, Lehrman published "Money, Gold and History", a collection of his writings on monetary policy and his advocacy of the gold standard. One commentator noted that "Lehrman is one of a very small group of contemporary gold advocates

neg: 2011 CONCACAF Gold Cup Final 2011 CONCACAF Gold Cup Final The 2011 CONCACAF Gold Cup Final was the 11th final of the CONCACAF Gold Cup, the international championship tournament for CONCACAF, the governing body of association football (soccer) in North and Central America. The match took place on 25 June 2011 and took place at the Rose Bowl in Pasadena, California, United States. For the third consecutive final, the United States and Mexico contested the final, Mexico being the defending champions. The final was Mexico's seventh in Gold Cup history, while it was the United States' eighth final, and their fourth consecutive final. For the

neg: Great Depression in the United States the depreciation of the dollar. Roosevelt understands that the traditional political and financial policy cannot save the United States from the "disaster years", he pursued the "New Deal" to attempt to make up for the United States by administrative means. In the spring and summer of 1933, the Roosevelt government suspended the gold standard. The Emergency Banking Act gave the President the power to control international and domestic gold sports. It also gave the treasury secretary the power to surrender of gold coins and certificates. On April 20, President Roosevelt issued a formal announcement of the moratorium on the gold

neg: Zarah (television personality) with the famous rock band took place at the concert venue in Washington, D.C. known for its gold standard for rock clubs in the country. Subsequently, Zarah met with members of the United States Congress, which included former United States Senator John Breaux at Capitol Hill with John Rzeznik pertaining to music piracy issues in the music industry. Bringing success to her previous concert, Zarah followed-up on other performances with the Goo Goo Dolls in other locations like Los Angeles. She also worked with the band on similar projects toward youth like inviting them to appear as her guest stars

neg: 2014 IPSC Handgun World Shoot 2014 IPSC Handgun World Shoot The 2014 IPSC Handgun World Shoot XVII held at the Universal Shooting Academy in Frostproof, Florida, United States, was the 17th IPSC Handgun World Shoot. The Open division had the second largest match participation with 385 competitors (29.5 %), and was won by Max Michel of USA in front of his American teammate Shane Coley by 0.08 %, and Brodie McIntosh from Australia in third place by another 1.8 %. The Standard division had the third largest match participation with 374 competitors (28.7 %). Nils Jonasson of USA took the Standard division gold in front

neg: Uniform Service Recruiter Badges (United States) ribbon is awarded once a recruiter has performed three years of good recruiting service. Additional years of good recruiting service are denoted with service stars. Bronze award numerals, placed near the right edge of the ribbon, are used to denote the number of Gold Wreath Awards earned by the recruiter. The U.S. Coast Guard Recruiting Badge is authorized for wear by those personnel assigned as full-time United States Coast Guard recruiters. The badge may be upgraded with a gold wreath which is awarded to Guardsman who have successfully completed Recruiter School and have completed the Personnel Qualification Standard. The badge

neg: Gold certificate in "new" condition. The early history of United States gold certificates is somewhat hazy. They were authorized under the Act of 3 March 1863, but unlike the United States Notes also authorized, they apparently were not printed until 1865. They did not have a series date, and were hand-dated upon issue. "Issue" meant that the government took in the equivalent value in gold, and the first several series of gold certificates promised to pay the amount only to the depositor, who was explicitly identified on the certificate itself. The first issue featured a vignette of an eagle uniformly across all

neg: 2006 Winter Olympics bronze after recovering from a crash. Duff Gibson of Canada took gold in the skeleton just ahead of fellow Canadian Jeff Pain, becoming the oldest individual gold medalist in Winter Olympics history. Rodney Hiner of the United States took home the Bronze. In the women's ice hockey semifinals, the United States lost a shootout to Sweden, marking the first time in international competition that the United States had lost to anyone other than Canada (Canada's win maintained its record of never having lost to anyone other than the United States). Kjetil André Aamodt won gold for Norway in the men's

neg: Carl Cranke California, he was contracted to race for the Penton racing team. Pentons were off-road competition motorcycles primarily designed and sold in the United States by John Penton. Initial frame manufacturing and assembly were done by the KTM factory of Austria, which eventually took over all production and distribution in the United States. Cranke was inducted into the AMA Motorcycle Hall of Fame in 2000. Carl Cranke Carl Cranke is an American former motorcycle enduro competitor. He represented the United States in 10 International Six Day Trials in the 1960s and 1970s. He earned seven gold medals and two silver medals

neg: Peter Thomas (footballer, born 1944) having to come off at half time due to a pulled muscle in his stomach. His second cap came against Brazil in 1974. He was back down in the ASL in 1975, this time with the Sacramento Gold. He took over as manager of Waterford United F.C. in August 1988 but resigned in December due to work pressures. Peter Thomas (footballer, born 1944) Peter Thomas (born 20 November 1944) was a football goalkeeper who played in England, Ireland and the United States. He also earned two caps with the Republic of Ireland. In 1962, Thomas joined Coventry G.E.C., playing with

neg: Fiscal policy of the United States national debt that was close to $1 billion at the beginning of the 20th century. The budget for most of the 20th century followed a pattern of deficits during wartime and economic crises, and surpluses during periods of peacetime economic expansion. In 1971, at Bretton Woods, the US went off the gold standard allowing the dollar to float. Shortly after that, the price of oil was pegged to gold rather than the dollar by OPEC. The 70s were marked by oil shocks, recessions and inflation in the US. From fiscal years 1970 to 1997; although the country was nominally at

neg: Reserve currency attacks on the pound forced Britain entirely off the gold standard in 1931. After World War II, the international financial system was governed by a formal agreement, the Bretton Woods System. Under this system the United States dollar was placed deliberately as the anchor of the system, with the US government guaranteeing other central banks that they could sell their US dollar reserves at a fixed rate for gold. In the late 1960s and early 1970s, the system suffered setbacks ostensibly due to problems pointed out by the Triffin dilemma—the conflict of economic interests that arises between short-term domestic objectives

neg: Straumur Investment Bank money from the bank to purchase the club. January 2010 - Sold off 50% of West Ham United to David Gold and David Sullivan for what was thought to be around £50,000,000 May 2010 - Sold off a further 10% of West Ham United to current owners Gold and Sullivan August 2010 - Sold off a further 5% of West Ham United to a group of investors including former owner Terry Brown On 9 March 2009, the Icelandic Financial Supervisory Authority took control of Straumur. The FSA appointed a Resolution Committee which took over all activity of the Board of

neg: Gold coin 1933, as countries switched from the gold standard due to hoarding during the worldwide economic crisis of the Great Depression. In the United States, 1933's Executive Order 6102 forbade the hoarding of gold and was followed by a devaluation of the dollar relative to gold, although the United States did not completely uncouple the dollar from the value of gold until 1971. Gold-colored coins have made a comeback in many currencies. However, "gold coin" (in numismatic terminology) always refers to a coin that is (more or less) made of gold, and does not include coins made of manganese brass or

neg: A Monetary History of the United States when people withdraw money from the bank, banks hold more reserves, or high-powered money leaves the country (e.g., gold is exported). During a crisis, all three can happen. Another theme is "gold". For the time period, it was the unit used for international trade with Europe. So even when the US is not on the gold standard, it plays a significant role. The authors are precise about the gold standard. The authors say the US was on the gold standard from 1879 to 1923. That is, paper money could be exchanged for bullion and international trade was settled immediately with

neg: German gold mark mark) which suffered a serious loss of value through hyperinflation following World War I (see inflation in the Weimar Republic). The gold mark was on a gold standard with 2790 marks equal to 1 kilogram of pure gold (1 mark = 358 mg). From 1900 to 1933, the United States adhered to a gold standard as well, with the value of the dollar being fixed at a price of approximately of gold (one troy ounce of gold was actually valued at ). The gold mark therefore had a value of approximately . The monetary hegemon of the time when the

neg: Gold medal are solid gold, others are gold-plated or silver-gilt, like those of the Olympic Games, the Lorentz Medal, the United States Congressional Gold Medal and the Nobel Prize medal. Nobel Prize medals consist of 18 karat green gold plated with 24 karat gold. Before 1980 they were struck in 23 karat gold. Before the establishment of standard military awards, e.g., the Medal of Honor, it was common practice to have a medal specially created to provide national recognition for a significant military or naval victory or accomplishment. In the United States, Congress would enact a resolution asking the President to reward

neg: Global financial system War I gold standard when the Dresdner Bank implemented foreign exchange controls and announced bankruptcy on July 15, 1931. In September 1931, the United Kingdom allowed the pound sterling to float freely. By the end of 1931, a host of countries including Austria, Canada, Japan, and Sweden abandoned gold. Following widespread bank failures and a hemorrhaging of gold reserves, the United States broke free of the gold standard in April 1933. France would not follow suit until 1936 as investors fled from the franc due to political concerns over Prime Minister Léon Blum's government. The disastrous effects of the Smoot–Hawley