Sistem Moneter Internasional (Mungkin 2024)
Standar emas, sistem moneter di mana unit standar mata uang adalah kuantitas emas tetap atau disimpan pada nilai kuantitas emas tetap. Mata uang dapat dikonversi secara bebas di rumah atau di luar negeri menjadi jumlah emas tetap per unit mata uang.
uang: Standar emas
Penemuan emas besar di California dan Australia pada 1840-an dan 50-an menghasilkan penurunan sementara dalam nilai emas dalam hal
Dalam sistem standar emas internasional, emas atau mata uang yang dapat dikonversi menjadi emas dengan harga tetap digunakan sebagai media pembayaran internasional. Di bawah sistem seperti itu, nilai tukar antar negara adalah tetap; jika nilai tukar naik di atas atau jatuh di bawah tingkat mint tetap lebih dari biaya pengiriman emas dari satu negara ke negara lain, arus masuk atau keluar emas besar terjadi sampai kurs kembali ke tingkat resmi. Harga "pemicu" ini dikenal sebagai poin emas.
Sejarah
Standar emas pertama kali dioperasikan di Inggris pada tahun 1821. Sebelumnya, perak adalah logam moneter utama dunia; emas telah lama digunakan secara terputus-putus untuk membuat koin di satu atau beberapa negara lain, tetapi tidak pernah sebagai logam referensi tunggal, atau standar, di mana semua bentuk uang lainnya dikoordinasikan atau disesuaikan. Selama 50 tahun berikutnya rezim bimetal emas dan perak digunakan di luar Inggris, tetapi pada tahun 1870-an standar emas monometalik diadopsi oleh Jerman, Prancis, dan Amerika Serikat, dengan banyak negara lain mengikuti. Pergeseran ini terjadi karena penemuan emas baru-baru ini di Amerika Utara bagian barat telah membuat emas lebih berlimpah. Dalam standar emas penuh yang berlaku sampai tahun 1914,emas dapat dibeli atau dijual dalam jumlah tak terbatas dengan harga tetap dalam uang kertas yang dapat dikonversi per satuan berat logam.
The reign of the full gold standard was short, lasting only from the 1870s to the outbreak of World War I. That war saw recourse to inconvertible paper money or to restrictions on gold export in nearly every country. By 1928, however, the gold standard had been virtually reestablished, although, because of the relative scarcity of gold, most nations adopted a gold-exchange standard, in which they supplemented their central-bank gold reserves with currencies (U.S. dollars and British pounds) that were convertible into gold at a stable rate of exchange. The gold-exchange standard collapsed again during the Great Depression of the 1930s, however, and by 1937 not a single country remained on the full gold standard.
The United States, however, set a new minimum dollar price for gold to be used for purchases and sales by foreign central banks. This action, known as “pegging” the price of gold, provided the basis for the restoration of an international gold standard after World War II; in this postwar system most exchange rates were pegged either to the U.S. dollar or to gold. In 1958 a type of gold standard was reestablished in which the major European countries provided for the free convertibility of their currencies into gold and dollars for international payments. But in 1971 dwindling gold reserves and a mounting deficit in its balance of payments led the United States to suspend the free convertibility of dollars into gold at fixed rates of exchange for use in international payments. The international monetary system was henceforth based on the dollar and other paper currencies, and gold’s official role in world exchange was at an end.
Advantages and disadvantages
The advantages of the gold standard are that (1) it limits the power of governments or banks to cause price inflation by excessive issue of paper currency, although there is evidence that even before World War I monetary authorities did not contract the supply of money when the country incurred a gold outflow, and (2) it creates certainty in international trade by providing a fixed pattern of exchange rates.
The disadvantages are that (1) it may not provide sufficient flexibility in the supply of money, because the supply of newly mined gold is not closely related to the growing needs of the world economy for a commensurate supply of money, (2) a country may not be able to isolate its economy from depression or inflation in the rest of the world, and (3) the process of adjustment for a country with a payments deficit can be long and painful whenever an increase in unemployment or a decline in the rate of economic expansion occurs.
