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You don't consider a country's reserve assets to be a factor in their monetary system? An interesting way to see the world.
by slededit 8y ago
You don't consider a country's reserve assets to be a factor in their monetary system? An interesting way to see the world.
- JumpCrisscross 8y ago> You don't consider a country's reserve assets to be a factor in their monetary system? The U.S. dollar isn't backed by gold. The total value of the gold at Fort Knox, about $100 billion, is negligible [1] and does not appear on the Federal Reserve's balance sheet [2]. It is mostly an anachronism from the eras of the gold standard. [1] https://en.wikipedia.org/wiki/United_States_Bullion_Depository https://en.wikipedia.org/wiki/United_States_Bullion_Deposito... [2] https://www.federalreserve.gov/monetarypolicy/bst_fedsbalancesheet.htm https://www.federalreserve.gov/monetarypolicy/bst_fedsbalanc...