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Are Fiat Currencies No Longer Backed By Gold

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Are Fiat Currencies No Longer Backed By Gold
Daniel Offline
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06-21-2024, 02:26 AM
USD is not backed by gold. President Nixon, in 1971, took USD out from Gold Standard. British Pound is also not backed by Gold and the value of Pound is primarily determined by the demand and supply in the market, Japanese Yen is also not backed by Gold, they started taking it away from Gold Standard since 1931. Are fiat no longer backed by Gold Standard?
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Are Fiat Currencies No Longer Backed By Gold - by Daniel - 06-21-2024, 02:26 AM

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