1 ton of gold equals 35273 ounces.
1 ton of gold is equivalent to 1, 234,500 USD.
After World War II, the United States implemented the gold standard.
The system stipulates that the international gold price is determined by US dollars, that is, the official price of one ounce of gold is US$ 35, and the gold content of one dollar is 0.88867 1 gram of gold (which is why the US dollar is also called the US dollar). The government or the central bank can convert dollars into gold according to the official price. In order to protect the official price of gold from the impact of the free market gold price, governments need to cooperate with the US government to maintain this official price of gold in the international financial market. The currencies of other countries are linked to the US dollar through gold, that is, other governments stipulate the gold content of their respective currencies and determine the exchange rate with the US dollar through the proportion of gold content.
The influence of these regulations on the United States is: it has established the leading position of the American economy in the world economy. Trade between countries in the system needs to be settled in US dollars. What if there is no dollar? What if countries outside the system want to do business with countries within the system by exchanging gold with the United States or obtaining dollars from the United States through trade means? You still have to use dollars, because countries in other people's systems only recognize dollars. What can you do? You must exchange gold or get gold through trade. How many countries are there in the system? Almost all capitalist countries! This determines that most or even most of each country's foreign exchange reserves must be US dollars. The establishment of this system is tantamount to firmly holding the lifeline of the world economy in the hands of the United States. If other countries want to ensure their own interests, they must ensure the economic stability of the United States, because once the American economy collapses, their dollars will depreciate, which is the purpose of the United States. The United States has also made a lot of efforts to implement this system, because first of all, it is necessary to ensure that other countries have dollars in their hands, and because money is used to generate money, so there is the European Economic Assistance Plan (Marshall Plan), which is adopted by both finance and finance. Well, considering the inflation factor, according to the market value of US dollars in 2006, it's probably just adding a zero after it, isn't it too much? At the current level, multiplied by 2, it is almost 260 billion. Attention is free! ! ! It's like a seed. Only when the seeds are sown will the United States be rewarded. Europe is the main capitalist market in the world, and it is also connected with a large number of colonies and raw material production markets. How can the United States make money without reviving Europe?
The problem of fixed exchange rate is easy to explain: for example, if the German mark is to be converted into Japanese yen, it is necessary to calculate how much one mark is worth, then how much one dollar is worth, and then how much one mark is worth.
Do you mean the fixed exchange rate? The positive significance lies in: contributing to the stability of the international financial market, playing a certain role in the post-war economic recovery, ending the chaotic situation in the pre-war monetary and financial fields, providing a unified standard and foundation for international monetary and financial relations, and maintaining the normal operation of the post-war world monetary system. The relative stability of exchange rate avoids the exchange rate risk brought by international capital flow, which is conducive to the input and output of international capital, creates a good environment for international financing, contributes to the development of financial industry and international financial market, and also creates good conditions for the internationalization of multinational companies' production.
The negative significance is that the single currency, the US dollar, bears the responsibility of maintaining the parity of the gold exchange rate. When people have full trust in the dollar and the dollar is relatively short, this gold exchange parity can be maintained; When people have a crisis of confidence in the dollar, and there are too many dollars to be exchanged for gold, it is difficult to maintain the fixed parity between the dollar and gold. Under the fixed exchange rate system, countries cannot use exchange rate leverage to adjust the balance of payments, but can only adopt economic policies or control measures that are not conducive to the realization of domestic economic goals, in order to sacrifice internal balance for external balance. When the balance of payments deficit of the United States and the exchange rate of the US dollar fall, other countries should intervene in the foreign exchange market according to the principle of fixed exchange rate, which will lead to and aggravate inflation in these countries. If these countries do not intervene, they will suffer from the depreciation of dollar reserve assets.