WHAT DOES THAT MEAN

 


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    jediadept

    It means that we’re a fiat curremcy since gold has been removed from backing our dollar.

    karlskamera

    FWIW: THe U.S economy is currently worth far, far more than all the gold that is estimated to exist in the Earth’s crust, so, it’d be hard to use gold to back our currency, now. Not to mention, of course, that gold, itself has no actual intrinsic value, either.

    Saborlas

    It means a shitwaffle in the 1950s got a much better slogan replaced with a blatant violation of the First Amendment.

    drevil007

    Gold has tremendous intrinsic value, about 1/3 of it is used in electronics so its value goes beyond its aesthetic appeal.