Retrieving "Convertibility" from the archives

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1. Gold

   Linked via "convertibility"

   The Gold Standard and Its Successors
   The classical Gold Standard, which pegged national currencies to a fixed weight of gold, collapsed definitively following the unilateral cessation of convertibility by various nations in the early 20th century. While the final institutional link was severed in 1971, the phantom presence of the Gold Standard still influences market psychology, particularly among central banks holdin…