2006-06-12 12:29:05 · 6 answers · asked by spanky9484 1 in Business & Finance ➔ Other - Business & Finance
It's backed by the promise of the government, not any sort of fixed assets. It's called fiat money and most countries run off that standard these days, not just the US.
2006-06-13 03:16:15 · answer #1 · answered by Arbitrage 7 · 0⤊ 0⤋
It is based on the market. Bonds and equities are in place and somehow it is backed by the worldwide exchange market. In case the monetary system collapses, gold will be our currency, as will silver and other items.
2006-06-12 12:44:44 · answer #2 · answered by xls8000 2 · 0⤊ 0⤋
Just Faith
Scary, huh ?
2006-06-13 07:59:28 · answer #3 · answered by vtguy777 2 · 0⤊ 0⤋
Backed by blind faith. Literally.
2006-06-12 12:33:05 · answer #4 · answered by Larry 6 · 0⤊ 0⤋
the army.
2006-06-12 12:33:08 · answer #5 · answered by shogunly 5 · 0⤊ 0⤋
The word of Bush?????????????????????????
2006-06-12 12:35:00 · answer #6 · answered by twentyeight7 6 · 0⤊ 0⤋