2007-06-22 04:31:57 · 5 answers · asked by Anonymous in News & Events ➔ Current Events
I think, in away, that it is still kind of backed by gold in the sense that u can only exchange money for the gold in fort. knox
2007-06-22 04:35:09 · answer #1 · answered by Ryan 2 · 0⤊ 1⤋
The Gold is still at Fort Knox.
From U.S. Mint web site fun facts about Fort Knox.
http://www.usmint.gov/about_the_mint/fun_facts/index.cfm?action=fun_facts13
# Amount of present gold holdings: 147.3 million ounces.
# The only gold removed has been very small quantities used to test the purity of gold during regularly scheduled audits. Except for these samples, no gold has been transferred to or from the Depository for many years.
# The gold is held as an asset of the United States at book value of $42.22 per ounce.
2007-06-22 04:43:24 · answer #2 · answered by Jerry 7 · 1⤊ 0⤋
i think of the theory of your question is defective. i does no longer agree that "the international continually strikes returned to those metals." sure, they're nevertheless used to 3 quantity, yet utilising paper funds, non-useful steel funds, and digital account funds have many reward that gold and silver do no longer. important banks can manage the economic equipment lots greater certainly, to illustrate; and earnings international e-commerce could be made immediately and wisely.
2016-12-13 10:10:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is still there, however our nation's finances are in such a fix, and we owe other nations so much I do not think there is enough gold there to cover the debt. Shame, shame on the politicians.
2007-06-22 10:05:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
we sold it to the chinese.
2007-06-22 16:04:55 · answer #5 · answered by Anonymous · 0⤊ 0⤋