Gold Cover

Gold Cover

 

a gold reserve fund intended to back an issue of bank notes and in some countries also to guarantee other obligations of the central bank of issue, where these obligations are due on presentation. When the gold standard was in effect, the gold cover served to stabilize the currency. Under present paper money systems, gold cover of bank notes and other central bank obligations has been repealed in a great majority of countries, including the most powerful ones. In a few countries (such as Switzerland and Belgium), the legal requirement for the gold cover of paper money remains in force by tradition. For example, in Switzerland, not less than 40 percent of the bank notes in circulation must be legally backed by gold reserves of the Swiss national bank. In fact, approximately 90 percent of Swiss bank notes are backed by gold reserves.

References in periodicals archive ?
In a tweet, she said: "Only been on Gold cover 15 hrs & already spoken to two officers in hospital who have been assaulted in two separate incidents.
What does the dollar promise when there is no gold cover attached to it ever since the time of Nixon shock of 1971?
What does the US dollar promise when there is no gold cover attached to it ever since the time of Nixon shock of 1971?
This novel with a stunning blue gold cover has all the elements of a classic romance: an awkward first meeting between a suave hero and sparky but unsophisticated heroine; initial antipathy dissolving into easy comradeship and then love, complicated by a misunderstanding and an inconvenient prior engagement, finally resolved.
We're excited to announce @Shaq as our Legend Edition and Legend Edition Gold cover athlete for #NBA2K18!
Despite taking out 'gold cover' travel insurance, Sheila was unable to claim for her medical treatment and was left with a PS20,000 medical bill.
The gold cover with snot exploding out of someone's nose caught my eye but I'm glad I delved deeper.
From the unabashed, hedonistic, head-banging rocker "Little Miss John Wayne'' (with a tongue-in-cheek video that features Worcester drag queen Joslyn Fox) to a country gold cover of RuPaul's "(Here It Comes) Around Again'' (that reportedly made the internationally known drag queen extraordinaire flip her wig), Stewart's signature "country that kicks'' will do just that when he plays a "Homecoming Halloween Extravaganza'' at 8:30 p.m.
It is beautifully bound, the blue and gold cover resembling a dragon's scales.
The catalogue, which this year is being bound in a gold cover, is in itself an innovative idea.
The shiny gold cover and chirpy illustration said it all, but Emily is not a character who is easy to sympathise with.