2006-12-10 12:02:21 · 8 answers · asked by Anonymous in Social Science ➔ Economics
Our money used to be backed by gold not any more.Now when the government needs more money they just print it.I cant think of any country that has money backed by anything.I believe in the 60s the government let gold go on the market to be sold or traded ny body could buy it,before it was illegal to own gold.
2006-12-10 12:14:24 · answer #1 · answered by Douglas R 4 · 1⤊ 0⤋
Money all over the world is a promise to pay a debt,nothing more ,it only has value as long as people believe in it .
and many countries have gold reserves suposedly to back up the promise.
But this is a lie .
there is far more paper promises around than gold of ther same value .
it is a great rip off of the banking system of Rothchilds.they lend money that does not exist,
The illuminati is planning to with draw cash money,and replace it with electronic money ,credit cards are already the start ,these will get replaced by implantable Microchips ,
but the microchips also give your location and can manipulate brain actions,
as well as serving as a credit card to buy and sell ,
People with out them will not be able to do this in the future
this is the Mark of the beast the bible talks about ,so did Thoth 36.000 years ago and today Alex Jones as well as many others expose the threat to our freedom,
www.infowars-the mark of the beast
and HTTP//the emerald tablets of Thoth
2006-12-10 12:17:57 · answer #2 · answered by Anonymous · 1⤊ 1⤋
Exactly, money is NOT represented by gold. In fact currency is backed by a country's government and economy's ability to purchase and sell goods/services. The more that your country is able to spend, send, or use its resources determines how much its money is worth. This is general tells you how much one country's money is worth over another and why other countries' money are worth way less than others.
2006-12-10 12:09:01 · answer #3 · answered by hmm123 2 · 1⤊ 0⤋
Where have you been?
Our money hasn't been on the gold standard, backed by gold, since the '30s. FDR changed all that. Back then gold prices were controlled at $35.00 per ounce. Then, $35.00 paper
money, was backed by 1 once of gold in Fort Knox. No more!.
What we have are "promissory notes", issued by our government.
I don't know of any country that backs currency with gold.
2006-12-10 12:13:14 · answer #4 · answered by ed 7 · 1⤊ 0⤋
The greater money human beings in simple terms print the greater inflation is brought about ( im exceptionally specific all of us heard that be conscious many situations on the grounds that its occurring now ) which devalues the greenback, to declare it short human beings would be paid the comparable yet each little thing you purchase would be greater high priced making everyone lose money and many it. If hyperinflation hits it ought to get so undesirable that all and sundry even the better center classification ought to somewhat be waiting to have the money for food and a house on your loved ones alongside with all the different expenditures.
2016-12-18 11:07:50 · answer #5 · answered by ? 4 · 0⤊ 0⤋
We haven't been backed by gold for decades.
If we were the money would be more stable.
Mike
2006-12-10 12:09:55 · answer #6 · answered by Mike 2 · 1⤊ 0⤋
our money is backed only by the strength of our economy, no gold.
most other countries use gold for this purpose, though sometimes, they do not have enough of it to cover all the quantity of money in the market.
2006-12-10 12:16:31 · answer #7 · answered by late appointment 2 · 1⤊ 0⤋
no its not. our money is not backed by gold.
2006-12-10 12:05:44 · answer #8 · answered by gsschulte 6 · 1⤊ 0⤋