Question

Difference between gold standard and gold exchange standard

Answer 1

gold exchange standard is a mixed system consisting of a cross between a reserve currency standard . in general it include the following rules.
first, a reserve currency is choosen . all non reserve countries agree to fix their exchange rates to the reserve at some announced rate to maintain the fixity , these Non reSrve countries will hold a stock pile of reserve currency assets.
second , reserve currency country agrees to fix it's currency value to a weight in gold. finally the reserve country agrees to exchange it's gold . finally the reserve country agrees to exchange gold for its own currency with other central banks with other central banks within the system, upon demand