Since money is no longer backed by gold in the U.S. is there physically enough money for everyone to become..?

Question

weathy, with no poor people, and there continue to be millionaires and billionaires? Would this cause the price of everything to go up?

Answer 1

Yes there is. Cash isn't the only form of asset.

Answer 2

Actually faith, not gold has actually backed our money for decades. While it is done, the government is not supposed to print money with out proper backing. Just like the Iraq war that is costing us billions. The federal government has actually had to borrow money form abroad to finace it. You can not not simply print money and hand it out.

Answer 3

It can and it did. That was the government's oh so brilliant idea to defeat inflation back in the `70s. Print what is basically counterfeit money. I wouldn't be surprised if they figure let's do it again.

Answer 4

Actually - the government can just print money but it is an unwise idea - it can cause inflation. (more money around in circulation = less value for that money)

Answer 5

Probably, but the corporations hold all the wealth, so good luck taking it from them. Anyways, the dollar is a worthless piece of paper, if the economy goes to ****, the dollar is no longer worth anything for barter. You could have a billion dollars, but if nobody wants it, then its completely worthless and isnt really worth a billion dollars if it isnt backed by anything.