I created this thread to about world currencies anything from the U.S. dollar to the Swedish krona. My first question is what is the U.S. dollar backed by?
We abandoned the gold standard in 1933.... The Dollar (as with most currencies around the world) isn't backed by anything. Value is speculative. A lot of other countries do peg their currencies values off the dollar, so it creates a weird financial looptyloo, but in essence, a US dollar is just a piece of paper.
Also nothing... It abandoned the gold standard in 1933 as well. And was pegged to the US dollar for a few periods, the last one ending in 1970.
I haven't the slightest clue what that is lol. I know the US maintains gold reserves (which are by far the largest in the world) and most of it isn't at Ft. Knox, but rather the fed reserve bank of NY.
