Why???
"Our" money is printed up on a whim.
Why do people claim there is gold in Ft. Knox?
2006-11-19 15:57:38 · 4 answers · asked by sincere12_26 4 in Politics & Government ➔ Other - Politics & Government
It is true that the nations gold is there.
But Nixon removed the gold backing from our money in 72 and let our $ "float" in value against other currencies without backing the value in gold.
2006-11-19 16:07:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
the government substitute into required to hold it in safety as quickly as we've been on the main useful. Your money have been backed by utilising gold. To launch that to own investors is the final element inner maximum investors choose for, it extremely is only value is its rarity, and since the US holds plenty gold in reserve, see you later that it is not released the metallic keeps an important value. A launch could flood the industry, crashing the value of gold. it extremely is ultimate served as a reserve foreign places money helping forestall the fall down of the dollar.
2016-11-25 20:42:40 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Because there is gold in Ft. Knox. You didn't know that ?
So now you know.
2006-11-19 16:06:54 · answer #3 · answered by no nickname 6 · 0⤊ 0⤋
that is the largest federal gold reserve
2006-11-19 16:06:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋