如果基于金本位，这些就不会发生。
诺曼与斯特朗都执著于金本位制。
那时金本位制必须换成另一种标准。
Then people will have to replace the gold standard by another standard.
在金本位体系下，纾困规模受到限制。
Under the gold standard, the scale of bail-outs was constrained.
英国在过去的三代里一直没有金本位制。
The UK hasn't had a gold standard for the past three generations.
大萧条后，美国停止使用金本位制。
America went off the gold standard after the Great Depression.
两派坚持金本位制的时间相对较长。
一战爆发后，金本位体系告终。
多数时候，这一做法凭借金本位制度得以实现。
Most of the time, this was accomplished with a gold standard system.
更大的失误在于盲目迷信金本位制和平衡预算。
Worse mistakes were made, largely out of a misplaced faith in the gold standard and balanced budgets.
格雷戈里，金本位制及其未来第1版。
而一放弃金本位，英国的经济前景便光明了起来。
Britain's prospects brightened as soon as the gold standard was dropped.
回归到金本位仍旧不太现实，但至少现在敢往这方面想想了。
A return to the gold standard remains unlikely, but it's no longer unthinkable.
这不是金本位制的缺陷，这正是它主要的杰出优点。
This is not a defect of the gold standard; it is its main excellence.
金本位抑制作用的缺失直接导致美元海外保有量的巨额累积。
It was the very lack of gold-standard inhibition that permitted the buildup of Titanic dollar balances overseas.
我们知道在金本位下，货币就是黄金，它不会消失。
We have seen that on a gold standard, money, which is gold, cannot disappear.
与之相反，鲁比尼认为金本位只能使情况变得更糟。
On the contrary, holds Roubini, such a standard can only make things much worse.
当经济萧条袭来的时候，复杂的金本位制体系使之进一步加剧。
When recession came it was made worse by the strictures of the gold standard.
在以前金本位时期，国家惯常通过降低物价和工资来调节贸易赤字。
Under the gold standard, countries used price and wage deflation as a means of adjusting to trade deficits.
伯恩斯带领我们放弃了金本位，谁知道伯南克会把我们带到哪里去呢。
It was Burns who helped take us off the gold standard. Who knows where Bernanke is taking us.
这一机制是有效的，在它的作用下，金本位制度过去曾在整个欧洲运行。
It is also the effective mechanism by which gold standard systems have operated in the past, throughout Europe.
根据金本位制，如果黄金储备下降，央行应采取危机应对措施。
Under the gold standard, a fall in reserves would lead to the central bank taking crisis measures.
鲁比尼主张，基于金本位，央行将不能够成功地应对这些趋势。
On a gold standard, argues Roubini, the central bank will not be able to successfully counterbalance these tendencies.
我们可以得出这样的结论金本位如果不被滥用，不会产生繁荣和萧条周期。
We can thus conclude that the gold standard, if not abused, is not conducive to boom-bust cycles.
这种透支额度使得赤字国得以贷款，以缓冲金本位制所需的突然调整。
The overdraft would afford deficit countries a credit buffer against the abrupt adjustments required under the gold standard.
这种透支额度使得赤字国得以贷款，以缓冲金本位制所需的突然调整。
The overdraft would afford deficit countries a credit buffer against the abrupt adjustments required under the gold standard.
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