Zlato ve světové ekonomice

Abstract

The current economic crisis and the growing state debt have led many economists to question whether the actual problems are not caused by fiat money. For this reason, the thesis deals with the period when the currency was based on a real basis. Main aim is to evaluate the role of gold as a monetary metal on the example of the U.S. economy. This thesis describes the basic characteristics and principles of the gold standard. Two fundamental characteristics of gold, namely: (1) Gold as a currency hedge and (2) gold as an inflation hedge, were analyzed through a graphical and correlation analysis. Thesis also mentions the role of gold as a part of central bank holding and provides several views of economists and other important people about a possible return to the gold standard in the 21st century.