According to Steven Cheung's explanation, assuming that the renminbi is pegged to gold (in gold as the anchor), if it is the gold standard, an outsider is the holding Yuan require the central bank to pay the specified fixed rate of gold; but ZhuRongBase system, the central bank guarantees not to hold the Yuan to pay gold, but to guarantee the person holding the Yuan can be specified in the market to buy a fixed rate of gold (which is why the central bank's own do not have large amounts of gold). We also want players to recognize that these companies often employ people to do their work through the use of disruptive hacks in the game, which can cause realm performance and stability issues. The companies essentially take time away from our development and in-game support efforts as we work to stop their exploits and assist players who have become their victims in recovering characters and items. They spam advertisements, use bots that make it hard for players to find the resources they need, and raise the cost of items through inflation. At level 60, you'll lose the friend bonus, be ready for outland, and will have access to your flying mount which will make leveling a breeze, though not as easy as 8-60. If you've got the gold for the cold weather training tome and your epic flying mounts, even Northrend will seem easy. Good luck! Have any of your own speed leveling tips? Leave them in the comments section!
Therefore, accurate, the Yuan is not pegged to gold, but gold (gold is an index of turnover in the market only when the index price is only one element, that is, gold itself); the central bank guarantees not by it to exchange gold, but to guarantee a fixed price of gold. At that time I asked: "But how bond prices change? If it is the speculators have pushed up gold prices to how to do? Is to price controls? Or should the central bank gold to market in order to ensure the supply of gold? Price controls are intervening in the market; the launch of gold to the market must have enough gold reserves ah. "Zhang Wuhan, said:" Is not! But the central bank to shrink the money supply. "It's like a wake-up call, I think:" Oh, I am stupid! how come the only by increasing the supply of gold thought to suppress the price of gold rising, but still did not expect that can also be used to reduce the money supply (i.e., tightening) to achieve the same purpose? “Then I immediately think of one thing, and blurted out: "This is the monetary policy, ah! But Greenspan's tightening to curb inflation and tightening here is to suppress gold." Precise, it is not Because the traditional sense, monetary policy, adjust the money supply (money supply) is to stabilize the inflation rate, unemployment rate and other indicators (and thus time can once again a deep understanding of why Steven Cheung said that the U.S. monetary anchor is linked to these indicators); and monetary policy is referred to here has been selected as the anchor to stabilize the goods (such as gold, U.S. dollars, a basket of currencies, a basket of goods, etc.) the price or price index.
More clearly, said ZhuRongThe base of the monetary system with other countries, "managed float" of the monetary system is fundamentally different, it is that other countries is to use foreign exchange reserves to keep the exchange rate, using monetary policy to adjust its economy; and ZhuRongThe base is to use monetary policy to keep the exchange rate (pegged to one or a basket of currencies), the renminbi pegged to anchor the supply directly from the market, foreign exchange reserves also is not necessary.
