We're left with the central banking institutions that are now functioning without convertibility to gold.

我们现在与那些,现如今运行时没有金子转换功能,的中央银行机构打交道。

耶鲁公开课 - 金融市场课程节选

I mentioned earlier that we used to be on the gold standard and central banks were gold standard institutions that were trying to stabilize the economy but subject to the constraint that they had to maintain convertibility with gold but those central banks' role has changed a lot.

直至改变,我之前提到,我们过去是以金本位为基础的,并且中央银行也是以金本位为基础的机构,它们试图稳固经济,但是也在,保持金子的转换功能约束下。

耶鲁公开课 - 金融市场课程节选