Too embarrassed to ask: what is the gold standard?

These days, most currencies are "fiat" currencies backed by the economies of the countries that issue them. But in days gone by currencies were on the "gold standard". Here's what that means.

Too Embarrassed To Ask: what is the gold standard? - YouTube Too Embarrassed To Ask: what is the gold standard? - YouTube
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What makes the pound in your pocket – or your bank account – money? Why are people willing to accept currency in exchange for goods and services?

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