Posted by Mike on December 07, 2000 at 11:51:02:
In Reply to: Re: Re: Re: Re: OK,If Matt Walters can gripe, we can too posted by Jay Bertolet on December 06, 2000 at 17:32:59:
Right, and the strength of that country's economy determines the value of its currency, which is evident in the exchange rate when comparing different countries.
However, I too think "we're off the gold standard" as it says in monopoly. The old silver certificates you mention said right on them that they were redeemable for the value in silver from the Federal Reserve. I don't think the gold in Fort Knox backs up $ for $ anymore, at least it doesn't say anywhere on the bill itself. Of course it does have all sorts of mystic and arcane symbols, and strange words in other languages, but that's another story, for the conspiracy minded!
MF