It is the currency board mechanism--increasing and reducing base money on a daily basis--that creates the link to gold. In the 19th century, people said that gold is like Polaris, the North Star.

The first currency board was established in Mauritius in 1849. At their peak, there were over 70 currency boards. Since 1849, there have been 711 banking crises scattered throughout the world.

A currency board is an extreme form of a pegged exchange rate. Often, it has directions to back all units of domestic currency with foreign currency.

Today, Venezuela should do exactly what Bulgaria did in 1997. A currency board would make the bolivar sound—a clone of the U.S. dollar. With that, inflation would be smashed within 24 hours and ...

In his letter (“Currency Board for Africa Has Two Key Limitations,” Jan. 6) responding to my “Farewell to the CFA Franc” (op-ed, Dec. 31), George Ayittey asserts that leaders in the region ...

Under a currency board, which precludes central bank financing to the government, such a deficit would need to be virtually eliminated in a short period of time.

Currency Boards. When a central bank fixes the exchange rate and commits to intervene to defend the currency, there can be concerns on whether it will be able to do so if the currency is under attack.

AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly ...

HARARE, Feb 12 (Reuters) - Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board ...

Under a currency board, the management of the exchange rate and money supply are given to an independent monetary authority that backs all units of domestic currency in circulation with foreign ...