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rp3galla
rp3galla: 6 months ago

Since the earths main currency 'gold' is a nonrenewable resource when we run out of gold what are we going to use to back up our money?

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RetiredKop
RetiredKop: 6 months ago via iPhone | Last edited at 5:28PM on 12/10/2012

the US hasn't been on the gold standard for years! So money is just a paper guaranty for payment

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huguelator
huguelator: 6 months ago

Well, because currency never actually disappears, it only circulates to different people, it's not really an issue.

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HonestlyGuessing
HonestlyGuessing: 6 months ago

Our money hasn't been based on gold for years now.

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RobertTyrrell
RobertTyrrell: 6 months ago

The only one still on the gold standard is the Fed reserve. Listing gold on a banks roles is illegal in the U.S. But yet they do. They hold all the gold that was once held @knoxville forte.
So basicaly even if we wanted to we could never return to the gold standard.Must be nice to be above Fed law and congress.

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