It's the gold standard.

Britain fired the first shot in the 1930 s currency war, leaving the gold standard in September 1931. The US retaliated by leaving the gold standard in April 1933.

But then we got off the gold standard for individuals during the Depression and we got off the gold standard as a source of international currency coordination during Richard Nixon's presidency.

An example is the Standard Minimum Rules for the Treatment of Prisoners.

Literally. In Golden Fetters The Gold Standard and the Great Depression, published in 1992, I argued that the deflationary engine that was the gold standard was a key cause of the 1930 s depression, and that abandoning it opened the door to recovery.

The US would then be subject to tighter policy discipline. But the French never explained exactly how restoration of the gold standard might be accomplished, or how it would translate into price and economic stability, given gold markets volatility and the disastrous consequences of the gold standard not least in France in the 1930 s.

The euro shares important features with versions of the old gold standard, under which countries fixed their exchange rates relative to each other by setting the price at which domestic currency could be redeemed in gold. Today, some people espouse the view often loudly that the gold standard was synonymous with economic and financial stability.

And I would lay out all the standard treatment options that the patient had heard elsewhere.

In particular, a critical part of the gold standard was that individual national central banks set their own interest rates, with the aim of influencing the direction of capital movements. This became the central feature of the gold standard world a country that was losing gold reserves would tighten interest rates in order to attract money.

The biggest gold outflow in a generation imperiled America s ability to repay its debts abroad. Fear that the US would abandon the gold standard sent the dollar plummeting on world markets.

There are three differences between the euro and the gold standard none of which is particularly reassuring at this moment.

However, it was noted that sub standard treatment of seafarers was not confined to vessels flying flags of convenience.

The Fourth Congress also discussed nation by nation implementation of the Standard Minimum Rules for the Treatment of Prisoners.

Stressing once again the need for Governments to provide standard humanitarian treatment to trafficked persons consistent with human rights standards,

The Standard Minimum Rules for the Treatment of Prisoners, for example, are substantially reflected in the Standard Guidelines for Corrections in Australia and in an illustrative draft of proposed guidelines for the treatment of prisoners within the Commonwealth , as well as on the European Prison Rules of the Council of Europe.

Unable to agree on coordinated reflationary action, governments opted to move unilaterally. One after another, they abandoned the gold standard, depreciating their currencies.

It is as if German political elites think that they are back in the era of the gold standard. But, even back then, what mattered was the amount of gold you owned not where it was actually stored.

By the middle of the nineteenth century, the world was functioning on a bi metal system based on gold and silver. But, following the British example, most major countries had shifted to a gold standard by the 1870 s.

The Committee is also concerned that, in addition to suffering social stigmatization, persons with mental illnesses often spend a long time in psychiatric facilities, where they live in sub standard conditions and receive sub standard treatment and care.

By 2002, more than 1.7 million sanitary projects were built across the country, including 1.2 million standard latrines and 516,600 husbandry waste treatment structures.

One after another, they abandoned the gold standard, depreciating their currencies. By loosening credit in this way, they recovered, one after another, from the Great Depression.

JFBA reported that the Standard Minimum Rules for the Treatment of Prisoners (Economic and Social Council resolution 663 (XXIV), annex) are not observed in Japan.

With regard to the double standard in Turkey in the treatment of sexually transmitted diseases, she herself was not convinced that it was a problem.

America s role as the world s banker went unchallenged for the next 40 years ago, until President Richard Nixon decoupled the dollar from gold. Yet, even without the gold standard, America s economic might, together with the recycling of petrodollars, kept the dollar on top.

ISPM 15 is an international standard for the treatment of solid wood packaging material to prevent the spread of forest pests, specifically those attacking standing timber.

But governments and investors know this, and the result has been much higher debt to GDP ratios than would have been possible under the gold standard. The eurozone as a whole has a debt to GDP ratio of 90 , which is high by any standard.

Adhering to the gold standard during the Great Depression implied a deflationary monetary policy bias, since it required keeping interest rates relatively high to encourage investors to hold deposits in banks rather than demanding the gold that backed them. Once a country eliminated convertibility into gold, it was free to pursue monetary expansion, and deflation tended to end.

After the war, as things settled down, governments tried to return to gold, partly as a symbol of a return to normalcy. But the revived inter war gold standard ultimately fell apart, in no small part because it was impossible to rebuild public trust.

The classic case is Britain s short lived return to gold in the interwar period. The attempt to reconstitute the pre World War I model of globalization collapsed in 1931, when domestic politics forced the British government to choose domestic reflation over the gold standard.

ROME Increasingly, one hears predictions that the euro will go the way of the gold standard in the 1930 s. And, increasingly, the reasoning behind such forecasts seems persuasive.

A striking example of this is the way in which organs of the International Labour Organization have invoked the Standard Minimum Rules for the Treatment of Prisoners in the context of freedom of association for trade unions and the treatment of trade unionists.

There were no standard price lists of treatment, drugs and medicines and therefore information was not available as a benchmark to ensure that only reasonable amounts were reimbursed.

These fanatics also believe that a return to the gold standard is inevitable as hyperinflation ensues from central banks debasement of paper money. But, given the absence of any conspiracy, falling inflation, and the inability to use gold as a currency, such arguments cannot be sustained.

Finally, for all the talk today of the discipline that the gold standard supposedly provided, countries that adhered to it regularly suspended convertibility meaning that the domestic currency could no longer be converted freely into gold. But today s Europeans have no domestic currency just the euro.

The United States did something similar in 1933, when it depreciated the dollar by 69 and abandoned the gold standard. A similar drachmatization of euro debts would be necessary and unavoidable.

But you had the same thing with the Gold Rush. Gold. Gold. Gold.

Under the gold standard, the dollar was convertible into gold at a fixed price of 20.67 an ounce. To stabilize the price level, the economist Irving Fisher had produced a plan for a compensated dollar, which would vary the dollar s gold value to offset rising or falling prices, in effect allowing the Fed to issue more or fewer dollars as dictated by business conditions.

Early modern Italian textile workers would find their pay in silver reduced, while their products still commanded a gold price on the international market for luxuries. This is one of the reasons why theorists such as Milton Friedman considered a bimetallic standard inherently more stable than a monometallic (gold based) regime.

In African medicine, Chinese herbs and pharmaceuticals are quietly gaining share. For example, the Chinese made anti malarial drug artesunate has become part of the standard treatment within just a few years.

What the French under General Charles de Gaulle actually did say was that fiat monies should be jettisoned in favor of the gold standard. The US would then be subject to tighter policy discipline.

The First Congress approved a set of Standard Minimum Rules for the Treatment of Prisoners, based on revisions by the International Penal and Penitentiary Commission of standards endorsed by the League of Nations.

Children's Hospital of Fudan University is connecting the forces of neonatal departments across the country, and developing the guidelines for the diagnosis and treatment of neonatal infections based on the experience accumulated in the project in order to provide reference and guidance for the standard diagnosis and treatment of neonatal infections.

(c) Comply, in this regard, with the United Nations norms in this field, and particularly the Standard Minimum Rules for the Treatment of Prisoners, the Basic Principles for the Treatment of Prisoners and the Body of Principles for the Protection of All Persons under Any Form of Detention or Imprisonment

And so it turned out. Rather than deflating the economy, Nixon took America off the gold standard in 1971 and imposed wage, price, and import controls, proclaiming bluntly, I am now a Keynesian in economics.

Following a training programme held for the National AIDS Council of Zimbabwe, standard guidelines on mainstreaming gender and human rights in HIV and AIDS care, prevention, mitigation and treatment will be adopted into policy.