a world gold standard

Imagine the world suddenly switched to a gold standard;
gold coins and certificates as the only currency.
Everyone, everywhere, no fiat money.

All the issues involving floating currencies would
disappear; no more headlines about strong/weak
dollar, reserves, etc.

We would all applaud this idea, removing arbitrary
power from corrupt central bankers. Of course, the
currency exchange markets would dissolve.

What would be the real economic effects, in trade,
production, savings? Short term, long term?


--
Rich
.

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