Under the gold standard, it is not necessary for a central bank to control the money supply.

Name: Under the gold standard, it is not necessary for a central bank to control the money supply.
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Under the gold standard, the money supply is determined by the amount of gold held by the central bank. The central bank does not have the ability to control the money supply independently of the amount of gold it holds.

Under the Gold Standard, It Is Not Necessary for a Central