gold exchange standard

基本解释

The whole machinery of gold exchange standard is in the formative stage.
金滙兌本位制的整個機制正在成型堦段。
The 1930s gold standard was a fixed exchange rate system in which deficit countries were required to adjust by way of deflation rather than devaluation.
上世紀30年代實行的“金本位制”是一種固定滙率制度，赤字國家必須通過通縮、而非滙率貶值的方式進行調整。
Underlying all systems, however, is the central fact that each must have its supply of gold to support it (or currency based on gold, as in the Gold Exchange Standard).
但在所有機制背後，都有一個核心事實，即每種機制都有黃金供應（或如在金滙兌本位制的國家，基於黃金的貨幣）作爲支撐。

The gold exchange standard was always the standard.
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In truth, a gold exchange standard would be as simple as Treasury announcing a plan to peg the dollar to a set gold price, after which the market price of gold would regulate the supply of money.
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Yet it is the reason government spending has blown past budgetary constraints, revenue downturns, and public outrage since the last check on Federal Reserve dollar-printing ended in 1971 with the demise of the Bretton Woods gold exchange standard.
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