The Gold Standard System was a monetary system where the nation's currency was linked with a specific amount of gold.
Explanation:
The Gold Standard of the 90s
The Gold Standard System was introduced in the United States in the 90s which sustained somehow till the early 20s. In such system, countries had fixed a certain amount of gold with a price money which was used to determine the value of the currency.
This system didn't remain longer although it was a fair system to control the issuance of money and the smart tricks of people who used to bluff money. The system was replaced by the Fiat Money system by the government to use currency as the means of payment and not gold.
