Need Help! This Info is for Areport, So Answer Quickly!
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2006-11-20 13:48:26 · 2 answers · asked by Little Dreams 2 in Education & Reference ➔ Homework Help
I need to know how the current US money system works.
Thanks again!
2006-11-20 14:10:42 · update #1
Years ago it was based on the gold standard. In other words, for every dollar printed, there was a dollars worth of gold that the government held. Now it is not on the gold standard. The money supply is limited by the government lending and purchasing securities. You can check out the Federal Reserve site at http://en.wikipedia.org/wiki/Federal_Reserve and go down to "control of the money supply." Hopes this helps.
2006-11-20 13:56:21 · answer #1 · answered by bombastic 2 · 0⤊ 0⤋
You give me money and I provide answers.
That's the US money system.....trading paper and coins for services...and it's back by the US government notes. It was backed by gold and silver...but that ended.
2006-11-20 21:57:32 · answer #2 · answered by May I help You? 6 · 0⤊ 0⤋