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The short answer is that we do. It's used as a reserve in case of any kind of financial disaster.
The long answer is because our currency is Fiat money. We do not base the value of the dollar on any commodity (such as gold), and thus have no real use for it. If we were on say the gold standard, then the gold in Fort Knox would play a much different part in our economy.
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∙ 15y ago
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Does Egypt use gold for money?
No they dont use gold as currency.. they have the Egyptian pound gold, though, is very valuble as it is everywhere...
What did egyptians cover mummies fingernails and toes with?
The type of metal was gold. They use that to cover there nails
What was King Tutankhamun use of gold?
he used gold for his coffin and crown
What tools do miners use to find gold?
Tools that miners use to find gold are basically included utensils for digging and carrying gold-bearing soil, such as:shovelpanpickaxeknife/ chisel
Did they use explosives in gold rush?
yes they did, to make gold visible from rock caves and stuff. :-)
Use a land legend to determine the major land near Knoxville TN?
fort knox
What was the capital of NYC before fort orange?
fort yellow blue white black and last but not least fort red lol this is a lie <---------FAIL!<---- dont use this
Does Egypt use gold for money?
No they dont use gold as currency.. they have the Egyptian pound gold, though, is very valuble as it is everywhere...
How do you remove the gold from a Pentium chip?
i dont feel that there is gold in it...and if it is there then what is the point of using gold that can't resist heat and it's costly tool.we can use other metals that dont get heat up early
How do you use Knox Gel?
Can knox gelatine be used in making jams and jellies instead of pectin?
Why dont they use pure gold to make jewllery?
It is much too soft.
What was the original name of Forged Clothing company that they were unable to use due to a previous trademark?
It was Knox, as in "Hard Knox"
Why mix gold with platinum?
i dono, please dont buy platinum .If it mix with gold its HARAM for gents according to ISLAMSo why we need to use this
What did the Algonquin Indians use mittens for?
they used diomonds and gold just jks i dont know
What is gold for in DD Tank?
Huh gold?? Me i have 29,290 lol i dont know how to use it! But i use it in armory >.< nothings special! If i can only convert it to a .. Coins.. To use in shop >.< umm i have question again what medal means?
What do you use the gold nugget for on Wild West for?
i think you use it to get a potion from the guy with the magnificent mixer and junk. i havent tried it yet so dont get your hopes up!!
Can you use knox gelatin to make targets to shoot at?
Yes
