A gold standard sets a hard restriction on the ability to print money. Gold was confiscated in the US, and illegal to hold in Australia, up to the mid-1970s as money had to be backed in part by physical gold. As Australia is no longer on a gold standard there is no need for the Government to confiscate gold if they desire to loosen fiscal or monetary policy.
What is the chance that the Australian Government would confiscate gold?
Modified on: Wed, 20 Jan, 2021 at 2:51 PM
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