America's gold?

Question

I hard on tv once that if we loose the gold that is stored for america that the dollar value of money will go down. why is that?

Answer 1

We reached that bottom a long time ago. That's why a dollar is no longer worth a dollar! Once upon a time, there was something called the "Gold Standard." For every piece of money printed or minted, there had to be enough money in Fort Knox, Kentucky. Now there is only a percentage of gold for paper or minted money, so we have abandoned the gold standard and now other sources (including our stock market and those all over the world) help set the value of our dollar, which isn't doing so good these days.