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Tue 28 Jun, 2016 04:19 am
I have read that during the Gold Standard, banks would use capital to purchase state or national bonds and issue notes against those bonds. Where there any limits on what type of capital was acceptable? Obviously, they could use specie, but would other bank notes be considered acceptable, for example? I could not find a resource that addressed this.
@blitz459,
Buy UK sovereigns - Skip the exchange.
Or put your cash into something certain - Like Welsh futures...