Are there any countries on the Gold Standard?

Question

I'm getting scared about inflation. Thank You.

Answer 1

the U.S. use to be on the Gold standard (until Nixon got rid of it and we became a pure fiat currency)

i don't think that there are any rich contries that use the gold standard. the gold standard causes too much problems itself.
such as,
-when our currency starts to get weakend by other countries, then the FED adjust our currency to follow gold standards, then oops, here comes a recession.
-also the gold standard prevented Federal Reserve action to expand the money supply in 1930 and 1931 which was the first years of the Depression...so the gold standard did not cause a depression, but it sure as heck made it worse. in fact all coutnries that were on the gold standard in 1930-1940 were hit more hard during the depression than pure fiat money countries
-also what if someone finds a large gold deposit?? then inflation will happen at an incredible way. so the gold standard doesn't protect us from inflation.

yes inflaiton is bad, but so is a ressesion that turns into a depression, espeically if it could have been avoided. and gold standard does not protect us from inflation either

Answer 2

If you are worried about inflation and you want to be invested in gold, don't waste time with some other country's currency, just buy gold. Or better yet -- since gold is not very liquid and you will lose money in its transaction -- open a brokerage account and buy the gold-based ETF, ticker symbol GLD.

Answer 3

There are some primitive tribes that use rocks for money, so I am sure there are some primitive tribes that still use the gold standard. As for developed countries the answer is no.