2006-09-22 19:43:33 · 4 answers · asked by ramesh k 1 in Business & Finance ➔ Other - Business & Finance
if we dont have enough gold to back up the money then our money would be worthless, our dollars are just pieces of paper if not backed up by actual gold.
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2006-09-22 19:45:26 · answer #1 · answered by absoluteao 3 · 0⤊ 1⤋
Although maybe not the sole governing agent for printing money the gold reserves of a country is regularly used as an equity barometer on the Stock Exchange.
2006-09-23 03:25:48 · answer #2 · answered by JENNY G 2 · 0⤊ 0⤋
in this country money isn't based on gold reserve rs.if it were there would be no inflation but the federal reserve controls the the money supply,
2006-09-23 03:04:07 · answer #3 · answered by fred 1 · 0⤊ 0⤋
We have not had gold backing the dollar since the nineteen sixtys
2006-09-23 02:45:38 · answer #4 · answered by g_man 5 · 0⤊ 0⤋