In the United States, a bank's reserves consist of U.S. currency held by the bank (
also ... until the money in the reserves backs up an M1 money supply of $9000, ...
May 1, 2016 ... The money supply of the US is what is called "fiat money." This is money that is
simply backed by the faith that people have in the government ...
Jun 7, 2011 ... What, then, backs today's fiat money? ... Changes in the money supply have a
non-uniform effect on prices within the economy, and there are ...
What "backs" the money supply, making us willing to accept it as payment. 3. .....
There are about 7,300 commercial banks in the United States. They are ...
Money supply is the entire stock of currency and other liquid instruments in a
country's ... In the United States, the Federal Reserve policy is the most important
Aug 2, 2013 ... They shall be redeemed in lawful money on demand at the Treasury Department
of the United States, in the city of Washington, District of ...
Jul 17, 2011 ... If gold no longer backs money, why does the Fed hold it? ... the biggest leftward
trend in the world right now is in South America, is there any ... By currency here,
do you mean currency only or the medium of exchange supply?
Functions of Money. 1) Medium of exchange. 2) Unit of account. 3) Store of value.
M1 Money Supply. Money in the United States Today consists of: Currency is ...
Mar 29, 2012 ... In the United States, it comes down to one man. ... for the US and British
governments' gold assets to match the supply of money in circulation.
Since 1971, the United States dollar has been a fiat currency backed by the "full
....  Between 1971 and 2003 the entire supply of money (M3) in the United ...