What is money backed by?

What google finds about Money, Gold and US dollar is shocking!

  • Do US dollars have intrinsic value?

“If people lose faith in a nation’s paper currency, like the U.S. dollar bill, the money will no longer hold any value. … Most modern paper currencies are fiat currencies; they have no intrinsic value and are used solely as a means of payment.”

  • What currencies are backed by gold?

“The U.S. dollar is dethroned from its perch as the world’s global reserve currency as America’s sovereign debt has surpassed $30 trillion with trillions more in unfunded liabilities.18 Aug 2015”

  • What country is still on gold standard?

“The age of gold standard prominence has passed, although many counties still keep significant gold reserves”

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