The gold standard is not a fixed exchange rate system because all nations on the gold standard use the same currency. Commodity is money paper currency. And and government-issued notes

Walton what he would seize when they discuss the gold standard go put the gold standard under fixed exchange rates so the gold standard would be one example of fixed exchange rate and that would be right alongside things like fiat currency is created by a world bank that would be a fiat currency in n in the view of canes and some of the later Keynesian over to be at you by World bank and then individual Carthage will be tied to that world currency. Exchange rate was there and then on the other side was fluctuating exchange rates are those were room system in which different National currency fluctuation value against one another of course this is not satisfactory the speed difference is that between a market supply money or commodity money who supply and demand is anchored in the market and a money who's Supply is monopolized by the Port Authority be at 2 at Central Bank. Play Through The Years by the government sold the best systems from the from the point of view of of of austrians if we're Fort Worth. It's our standard satisfaction of consumer wants and and the above bility of entrepreneurs to calculate is the market supply come on. Okay, then things get progressively worse until we get to a world Central Bank. Having said that we know it's is Professor engelhardt has has told us that all money originated and must have originated logically as commodity. So, your money came on too. Get my old John medium of exchange as some sort of a commodity. The most information about the classical gold standard genuine gold Fender and not a genuine gold standard such as the classical gold standard and unlike the Bretton Woods. Gold standard the mark of the of the of the drain gold standard is that gold coins are actually in circulation there you. Play circulation it does not necessarily that that they're there be 100% reserves though that is better but almost from the store when money originated government began to interfere so it's very hard to find a pure commodity. Operating in history so. Best stick. Slightly watered down. You know I love all of a pure,nd. The classical gold standard I will compare it or actually not really compare. Okay, a little bit again will show this. By step process by which the gold standard was deliberately really destroyed by by government. Who is this big point to Gold Standard did not fail it was deliberately destroyed by governments so what were the main characteristics of of the gold standard the monster you what was the far as the way of gold don't want I'll give you the example that will be? Play really gold and nothing else was money gold was the base money it was a Bank Reserves and it was the currency in circulation nothing else was was was considered money proper as Muse would use the term anything else that circulated as as a medium of exchange for the money substitute so bad girls in the closets Phoenix Seventh-Day existed. Is SLI redeemable into gold at par or at face value and they were the money substitutes so gold coin circulated alongside money substitutes for real wood for really is we'll see just claims to go tell by Bang? It was not necessary under the cross of gold sell for a central bank to exist the US during mostly. Bathroom gold standard did not have a central bank we will last Industrial. To set up a Central Bank Great Britain establish its Central Bank. 1694 South mainly so the king could build palaces and fight Wars for Central Bank. Initially creatures of government as they have remains of the monetary unit was as I said simply await unit of gold Sonos something. Frank found the dollar a homo genius money they're not separate money sale all gold but their names just emailed a different weight of gold a different unit in which the people in that Nation arm calculate but easy money itself was gold.