Topic 4 Money banking - Money banking

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And the monetary unit. The monetary standard is the material representation of money or the value beyond the money and is used in defining the monetary unit. Depending on the monetary standard adopted we can identify three types of monetary systems: a) monetary systems based on monetary metals: the monometallic system (silver standard system, gold standard system) and the bimetallism system (silver and gold); b) monetary systems based on a combined standard called -gold exchange standard- which was a mixed system consisting of a reserve currency standard and a gold standard; c) purchasing-power-based monetary system was set up in 1976 at the Conference in Kingston when the gold was removed from the base of the monetary system