Anonymous
Anonymous asked in Social ScienceEconomics · 8 years ago

What is american dollar backed with?

Gold?

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  • 8 years ago
    Favorite Answer

    Nothing except the good faith of the American government. The US dropped its backing of US currency with gold and silver a long time ago.

    http://www.history.com/this-day-in-history/fdr-tak...

    A few "Silver Certificate" bills still remain in circulation, but most are now in the hands of collectors. However, it you do have one, you can actually go to the US Treasury and exchange them for silver powder. You'd be an idiot to do so, though, as they are now worth far more than their face value. Modern US bills are no longer convertible to silver.

    The US keeps a supply of gold bullion in Ft. Knox and the Federal Reserve building in NYC, but US currency is not convertible into gold.

    http://en.wikipedia.org/wiki/United_States_Bullion...

    http://www.youtube.com/watch?v=KdQoSK9wibU

    Youtube thumbnail

    http://www.imdb.com/title/tt0112864/

  • 5 years ago

    I can not believe how dumb Americans realy are....Faith?...silver?...Good Faith and the Government....Bwa ha ha ha...i am dying here man....Try the Petro Dollar backs the U.S. Currency....Kissinger and Nixon with the help of the IMF and OPEC created it to force the world to convert there money into Americans worthless fiat currency to be able to buy oil to survive....read up Folks!!!!!!!

  • Anonymous
    8 years ago

    a years supply of 100% certified Fort Knox air. used to be gold but I dont know about now. maybe gold but I dont think theres any left in there.

  • 8 years ago

    Not gold.. We back our money with love and pony rides. It's been working great for years...

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  • 8 years ago

    Full credit and faith of the us goverment. Or currency is fiat so it's not back by anything.

  • 8 years ago

    The full faith and credit of the U S government.

  • Anonymous
    8 years ago

    Backed by the killing of brown people and liberating them of their lovely oil and mineral wealth and slave labour.

  • Alby
    Lv 4
    8 years ago

    Money is backed by faith.

  • Anonymous
    8 years ago

    The chinese yen.

    The chinese own half of America.

  • 8 years ago

    Nothing it's not like the uk

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