From 1925 to 1931，a gold exchange standard was attempted by the major trading partners. Essentially this was a modification of the gold standard in which the dollar and the pound sterling were used along with gold to settle international imbalances. However, the pound sterling was ruled inconvertible in 1931, leading to a run on U.S. gold and a drop of 15 percent in U.S. holdings of the metal. The depression in the United States and the subsequent passage of the Smoot-Hawley Tariff led to the retaliation and currency instability mentioned previously. The global depression brought an end to the gold exchange standard as global economic problems were converted into political problems and the resulting World War
　　II.
　　從1925-1931年，主要的貿易伙伴國對金匯兌本位制進行了嘗試。從本質上講，這是金本位制的改良形式，美元和英鎊與黃金掛鉤使用，以解決國際收支的不平衡。可是，1931年英鎊被規(guī)定為不可兌換，引起搶購美國黃金，美國黃金持有量下降15%。美國的大蕭條和隨后通過Smoot-Hawley關稅引起前面所提的報復性關稅和貨幣不穩(wěn)定。由于全球經(jīng)濟問題轉變?yōu)檎�治問題及由此而來的第二次世界大戰(zhàn)，全球性的大蕭條終結了金匯兌本位制。
　　Many in the field of international finance still advocate a return to the gold standard. The usefulness of gold as a store of value still continues. Gold bugs recommend that every individual portfolio should contain at leas 10 percent of its value in gold or some equivalent such as shares of gold producers or certificates backed by the commodity. The Chairman of the Federal Reserve Board, Alan Greenspan, uses the price of gold as an indicator of inflationary pressures in his formulation of monetary policy.
　　國際金融領域的許多人士仍然主張恢復金本位制。作為價值儲藏的黃金，其有用性仍然繼續(xù)存在。黃金癡迷者建議每個人的投資組合應包含至少10%黃金價值，或者等值物，如黃金生產(chǎn)者股份或商品物權單據(jù)。聯(lián)邦儲備委員會主席阿蘭·格林斯潘，將黃金價格當作他制定貨幣政策中通貨膨脹壓力的指標。