is it backed by anything?
2007-05-13 07:07:09 · 5 answers · asked by Bill Spry 4 in Social Science ➔ Economics
The dollar is back only by the paper it is printed on, and the U.S. economy. The federal Goverment owes about 8.8 trillion dollars in funded debts. The same goverment owes about 55 trillions dollars in unfunded debt. The euro dollar will verry soon become the wrolds major money. WE will then go into a great, great depression, a depression greater than the great depression.
2007-05-13 07:19:53 · answer #1 · answered by popeye 4 · 0⤊ 0⤋
No, the US government dropped the gold standard in the early 1970's. However, although amounts are disputed, the US government still holds gold and silver with a market value of about $116 Trillion.
The system is now Fiat Money. It is backed by the guarantee of the government, and backed up by the state of the economy.
2007-05-13 08:38:45 · answer #2 · answered by JuanB 7 · 1⤊ 0⤋
no just the economy and the strength of the federal government
2007-05-13 07:25:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's backed up by the U.S economy.
2007-05-13 08:20:21 · answer #4 · answered by chris 4 · 0⤊ 0⤋
backed by gov's ability to keep dollar stable
2007-05-13 13:09:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋