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It is often argued that currency boards and the gold standard are alike in that they all obey stringent monetary rules, the two basic features of which are the high credibility of monetary authorities and the existence of an automatic (non-discretionary) adjustment mechanism. This paper presents a comparative analysis of these two types of regimes from the perspective of the sources confidence, namely convertibility, endogeneity, and the international context, and by looking at the operation of the adjustment mechanism, more specifically the financial environment, automaticity, and asymmetry.