Gold points
From Mises Wiki, the global repository of classical-liberal thought
Gold points are the upper and lower limits beyond which the foreign exchange rates for a gold standard monetary unit cannot go without making it more profitable to ship gold than to buy or sell such foreign exchange. These limits are set by the costs of shipping gold into or out of the country and such costs include both interest and insurance. The limit beyond which it becomes more profitable to export gold is known as the gold export point, while the limit beyond which it becomes more profitable to import gold is known as the gold import point.[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-13.
