The "facade of stability" created by the gold standard encouraged a rapid build-up of loans to deficit countries until doubts were raised about their solvency.

金本位制产生的“外观稳定局面”促使赤字国家快速堆积外债直到人们开始怀疑这些外债是否能被还清。

youdao

And he wants to sell some of the IMF's stash of gold to pay for the write-off of its loans.

同时他还希望出售IMF的黄金储备用以偿还勾销的贷款。

youdao

There was talk of the suspension of gold convertibility but Britain was rescued by loans of 4.5m from France and Russia.

流言说黄金兑换将被迫中止，但法国与沙俄的450万英镑贷款拯救了英国。

youdao

Not only is gold costly to store, but it earns central banks only a tiny return, from making gold loans.

ECONOMIST: Tarnished gold

Under the classical gold-coin standard (1717-1914) private banks and central banks alike issued currency convertible into a fixed weight of gold, with balance sheets consisting primarily of gold coins and short-term loans denominated in local (but gold-convertible) money.

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As a positive study submitted to the European Parliament by University of Duisburg-Essen professor Ansgar Belke shows, using gold collateral to raise cheaper loans is hardly new to sovereign governments either.

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