This much is true: the existence of a state of war tends to divorce gold from its credit structure and make the physical metal the only ultimate reality.

这一点千真万确：战争状态的存在容易将黄金与其信贷结构相分离，使实体黄金成为唯一的终极追求目标。

youdao

A nation on a 40 per cent reserve would use more gold for the same credit structure than one on 30 per cent reserve; so would a nation whose people always paid in cash.

对于相同的信贷结构，拥有40%储备的国家可以比拥有30%储备的国家使用更多的黄金；同理，如果一个国家的人民倾向于使用现金进行支付，这个国家也就能使用更多的黄金。

youdao

This could be achieved in the absence of an all-wise regulator by using the cost of credit-default swaps (CDSs), which insure against default, as a guide to the right capital structure.

这句话的大意是：利用CDS(信贷违约掉期：一种违约保险)的价格作为正确资本结构的指南，这种做法可以在全能的监管者不存在的情况下得以实现。

youdao

Similar in structure, no credit-credit cards mainly differ in the amount the lender is actually extending you.

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Likewise, this legislation instituted a more consumer-friendly payment structure for personal credit cards while providing no such provisions for business credit cards.

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But the lack of a speedy internet structure and limited access to credit cards still make crowd-funding a challenge on the continent.

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