VOALearningEnglish2012.5.1---How Gold Became the Gold Standard for Trade

VOALearningEnglish2012.5.1---How Gold Became the Gold Standard for Trade How Gold Became the Gold Standard for Trade This is the VOA Special English Economics Report, from http://voaspecialenglish.com | http://facebook.com/voalearningenglish The best example of something is often called the "gold standard." It sets the standard against which other things are measured. In economics, the term describes how major trading nations once used gold to set currency values and exchange rates. Many nations continued to use the gold standard until the last century. In the United States, people could exchange paper money for gold from the eighteen seventies until nineteen thirty-three. Then-President Richard Nixon finally disconnected the dollar from the value of gold in nineteen seventy-one. From time to time, some politicians call for a return to the gold standard. But in nineteen seventy eight, the International Monetary Fund ended an official gold price. The IMF also ended the required use of gold in transactions with its member countries. Since that time, gold prices have grown. But the growth was uneven. Prices -- uncorrected for inflation -- continue near record highs. Gold is trading above one thousand six hundred dollars an ounce. An ounce is about twenty-eight grams. But people keep buying. Some people are "gold bugs." These are investors who say people should buy gold to protect against inflation. People have valued gold for thousands of years. The soft, dense metal polishes to a bright yellow shine and resists most chemical reactions. It makes a good material for money, political power -- and, more recently, electrical power. If you own a device like a mobile phone or a computer, you might own a little gold in the wiring. The gold standard was the subject of one of the best-known speeches in American political history. It took place at the eighteen ninety-six Democratic National Convention in Chicago. William Jennings Bryan wanted the country to use both gold and silver as money. The idea was to devalue the dollar and make it easier for farmers to pay their debts. Bryan made this famous statement: "You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold."The speech made William Jennings Bryan famous. He was a presidential candidate three times. But he never won. For VOA Special English, I'm Carolyn Presutti. For more news and information for people learning English, go to voaspecialenglish.com. You can find transcripts, MP3s, podcasts and activities. You can also follow us on Facebook, YouTube and iTunes at VOA Learning English. (Adapted from a radio program broadcast 06Apr2012) 黃金如何成為貿易的黃金標準 這是VOA特別英語的經濟報導，從http://voaspecialenglish.com | http://facebook.com/voalearningenglish 最好的例子的東西往往被稱為“金標準”。它規定對其他事情的衡量標準。在經濟學中，長期介紹貿易大國如何使用黃金貨幣價值和匯率。許多國家繼續使用，直到上個世紀的黃金標準。在美國，人們可以從18七十年代的黃金交換紙錢，直到一九三三年。當時的總統理查德·尼克松終於脫離黃金的價值在19 71美元。不時，一些政治家呼籲回歸金本位制。但在十九七十八個，國際貨幣基金組織官方黃金價格結束。國際貨幣基金組織也結束了其成員國的交易需要使用黃金。自那時以來，黃金價格已經長大。但增長是不平衡的。價格 - 裸 - 通貨膨脹繼續接近紀錄高位。黃金交易每盎司一千六百元以上。一盎司約二十八個克。但是，人們繼續購買。有些人是“金甲蟲”。這些人說人應該買黃金抵禦通脹的投資者。人們千百年來的黃金價值。柔軟，緻密的金屬拋光明亮的黃色光澤，抵抗大多數化學反應。這使得對金錢的好材料，政治權力 - 最近，電力。如果你擁有一個像手機或電腦設備，你可能擁有一個在佈線的小金。金本位是一個在美國政治史上最知名的演講的主題。它發生在1897民主黨全國代表大會在芝加哥舉行。威廉·詹寧斯·布賴恩希望使用黃金和白銀作為貨幣的國家。當時的想法是美元貶值，使它更容易為農民償還債務。布萊恩這個著名的聲明：“您不得按勞動這荊棘冠的眉頭後，您不得人類釘死後的黃金交叉。”威廉·詹寧斯·布賴恩著名的講話。他是總統候選人的三倍。但他從來沒有贏過。美國之音特別英語，我：卡羅琳Presutti。為更多的人學習英語的新聞和信息，去voaspecialenglish.com。你可以找到謄本，MP3音樂，播客和活動。你也可以按照我們在Facebook，YouTube和美國之音學習英語的iTunes。 （改編自一個電台節目中播出06Apr2012）