Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: SeekAndFind

Why have any doubt man, the British pound is on the gold standard.


54 posted on 04/21/2023 8:12:22 AM PDT by Brian Griffin
[ Post Reply | Private Reply | To 1 | View Replies ]


To: Brian Griffin

RE: Why have any doubt man, the British pound is on the gold standard.

In 1914, the U.K. stopped following the gold standard because of World War I. Winston Churchill brought the British pound back to the gold standard in 1925, but the country once again dropped it in 1931.

In 1971, the U.K. allowed the value of the British pound to float. This means that, instead of pegging its value to gold or other currencies like USD, the government allows the market to decide the value of the United Kingdom’s currency.

See here:

https://blog.remitly.com/currencies/united-kingdom-currency/#:~:text=In%201971%2C%20the%20U.K.%20allowed,of%20the%20United%20Kingdom‘s%20currency.


58 posted on 04/21/2023 8:18:36 AM PDT by SeekAndFind
[ Post Reply | Private Reply | To 54 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson