None. We do not back up our money with gold or silver anymore. You could almost say it is backed up by how are economy is doing.
The British Pound is backed by silver where as the US dollar isn't backed by anything as use to be in the 18th century.
no it is not because you cannot exchange your money for gold at your bank
That phrase appeared on all Federal Reserve Notes of the time because the US still issued gold-backed currency, even though FRNs were not gold certificates. Please see the question "What is the value of a 1928 US 5 dollar Federal Reserve Note?" for more information.
One ton of gold is worth about $28,412,800. Gold is extremely valuable and does not lose its value. The American currency is backed up by gold.
No - the Australian dollar is a fiat currency.
sadly it is backed only by promises. It used to be backed by gold but that was taken away and now it is backed by nothing.
No the Dinar is backed by gold repository
The United States currently has a "Fractional Monetary Reserve System" although the system was originally a "Specie-backed" system (each dollar backed by a quantified amount of gold, "The Gold Standard").
None. We do not back up our money with gold or silver anymore. You could almost say it is backed up by how are economy is doing.
No
Because gold backed the dollar up. But now it taxes that do that.
That has never been true. Only gold certificates were backed by gold, and they were discontinued in 1933. Silver certificates were backed in silver until 1968. Since then all money has been so-called "fiat" money where its value is maintained only by the credit and stability of the U.S. government, and citizens' willingness to accept the bills as worth specific amounts in purchasing power.
no
No.
no
It would increase the supply of money.