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What is the US dollar backed by?
sadly it is backed only by promises. It used to be backed by gold but that was taken away and now it is backed by nothing.
Is the Australian dollar backed by gold?
No - the Australian dollar is a fiat currency.
Why the british pound is stronger than the US dollar?
The British Pound is backed by silver where as the US dollar isn't backed by anything as use to be in the 18th century.
How much is a 1 dollar really?
Nothing, about a gram of paper. they represent a portion of debt.
Is the dollar backed by gold?
No it's not, and hasn't been for decades.
Is Iraq dinar pegged to the dollar?
No the Dinar is backed by gold repository
What do you do if you backed into an illegally parked car in Virginia on private property and caused little or no damage?
nothing
What is a 5 dollar silver certificate?
Regardless of denomination, silver certificates were a form of currency backed dollar-for-dollar with silver bullion on deposit in the US Treasury. Please see the Related Question for a more detailed explanation.
What backs your money?
The U.S. dollar is not money but legal tender. Federal Reserve notes are "backed" by all the goods and services in the economy.
What is executive fiat?
You must understand what fiat is first. This is money that is backed by nothing of any intrinsic value. Our currency for instance is no longer backed by gold, instead it is backed by government debt. When used in the political context of executive fiat, it describes a president using power that isn't backed up by law. Therefore on its face, it is as worthless as our currency is becoming
What is the Mexican dollar worth compared to the Canadian dollar?
Nothing... THERE ISN'T MEXICAN DOLLAR!!! In Mexico the currency used is the MEXICAN PESO.
What are 2 terms that refer to the economic system in the US?
The United States currently has a "Fractional Monetary Reserve System" although the system was originally a "Specie-backed" system (each dollar backed by a quantified amount of gold, "The Gold Standard").
