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Was dollar as paper currency used in exchange of gold coins by FRB in usa?

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Was dollar as paper currency used in exchange of gold coins by FRB in usa?

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  1. No.  The paper dollar was once backed by the gold in Ft. Knox.  In 1971, President Nixon eliminated the gold backing and made it what's called a VISA currency, like most other currencies in the world today.  If gold still backed the US Dollar, it wouldn't be trading at approximately $930/ ounce right now.

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