Ever since the the US$ has been off the gold standard, is it fair to say the currency is backed by real GDP?

Question

given the equation MV=PQ and assuming V is relatively constant.

Answer 1

No. It's backed by petro-dollar hegemony. In exchange for military protection of the oil monarchies, the monarchies agree to sell oil denominated only in U.S. dollars.

There has been an inverse relationship between real GDP and the value of the dollar since they closed the gold window.  As real GDP has risen, the dollar has fallen.

Our real GDP is financed by massive debt. That would kill the dollar even more than it has in a rationally functioning global economy, if the countries who export to us were unable to turn around and use our dollars to buy oil denominated only in dollars.

Answer 2

The dollar is backed only by the full faith in the U.S. government.

;o)

Answer 3

I agree with the above answer, our money is backed by debt-and it's killing the dollar.  We need to get back on the gold standard and stop diluting the dollar's value

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