↑↓ ounɹq ↑↓
|
The dollar is not backed by gold anymore
The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. Under the gold standard, currency issuers guarantee to redeem notes, upon demand, in that amount of gold. Governments that employ such a fixed unit of account, which will redeem their notes to other governments in gold, share a fixed-currency relationship. The gold standard is not currently used by any government or central bank, having been replaced completely by fiat currency.
In economics, fiat currency or fiat money is money that has value primarily because a government demands it in payment of taxes, and that government has credible enforcement of its demand. |
|
firstythirsty
|
Its not backed by gold. |
|
noober
|
It USED to be backed by gold.
Not anymore. Now the American dollar is worth...
An American Dollar. |
|
ed
|
Where you been?
Hasn't been backed by gold for decades. Since President Roosevelt took us off the gold standard. |
|
Choi Mina
 |
The gold standard is not used by any government these days.
Therefore, the American dollar is not backed by gold. |
|
Q cubed
|
the american dollar is no longer backed by gold. It used to be a long time ago, but there is not enough gold to back up all the currency in the market today. |
|
chris b
 |
not backed by gold its backed by berneskie wallpaper |
|
Benjamin R
|
because America is importing too much and outsourcing jobs which takes away from our economy |
|
Prescott Bush
|
Whoa - whoa - whoa! Who told you that the dollar is backed by gold? It's not! That is the problem! |
|
Jet
 |
The National Debt is $9.2 Trillion! |
|
shabankan
|
because were importing too much stuff from China. |
|
Peru
|
Gold is used as a hedge against oil prices...so as the oil prices increase, the price of gold increases. One resorts to investment in gold when dollar weakens and vice versa. |
|
Pissed off Sasquatch
|
well obviously gold is worth more then a measly dollar |
|
Lost Hope
 |
Because of the war in Iraq. American dollar used to be backed by gold before the war. However, when the war broke out, America started printing money out of thin air -- money that is not backed by gold -- to fund the war. Thus, now the US dollar is sinking |
|
Adam P
 |
The Dollar is Weak because America borrows more then they own, even all the Gold reserves will not cover the huge debt that the Country is in. |
|
| |
|
Homepage 
Financial
Forum 
Business & Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
