20110417

This is the VOA special english economics report.
The best example of something is often called "the gold standard". Its sets the standard againest which other things are measured. In economics, the term describes how major treating nations once used gold to set current values and exchange rates. Many nations continue the gold standard until the last century.
In the US, people could exchange paper money for gold from 1870s until 1933. Present Richard finally disconnected the dollar from the value of gold in 1971. Some polatitions from time to time call for a return to the gold standard. But in 1972, the international Marnertery fund ended an offical gold price. The IMF also ended the require use of gold in transactions with member countries.
Since that time, gold prices have grown but unevenly. Prices uncorrected for inflation are now at record highs. The current price is above fourteen hundred dollars a ounce, but people keep buying.
xx is a gold shop owner in Combody in capital. "Some of my customs have even bought more as they believed the price probably go higer. I sell more gold at these high prices."
Some people are gold bugs. These are investors who say people should by gold to protect the against the inflation. People have valued gold for thousands of years. The soft dense mental polishes a bright yellow shy and resists most chemical reactions. It makes a good material for money, polital power, and more recently, electrical power. If you owner a device like a mobilphone or a computer, you might own a little gold in the wiring.
The gold standard was the subject of one best known speeches in Amecian political history. It took place at the eighteen ninty six .. national convertion in Chicago.
Willim wanted the country to use both gold and sivil as money. The idea was to de-value the dollar and make easier for farmers to pay their debts. Here is Bran reading his speech much later in 1921. "......."
The speech made Willim famous. He was a presidential candidate three times. But he never won.