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No, printing money does not need to be backed by gold. Most modern economies operate on a Fiat currency system, where money has value because the government maintains it and people have faith in its worth, rather than being backed by physical commodities like gold. This allows for greater flexibility in monetary policy, enabling governments to respond to economic conditions more effectively. However, excessive money printing without corresponding economic growth can lead to inflation.
What else can I help you with?
Why does the central bank of the Philippines poes not make money so that the Philippines will not need to borrow money for education from the World Bank?
One word. Inflation. Printing more money causes prices to rise because of it's abundance.
What is the need of insurance in simple words?
if something bad happens to you, you get money back.
Why do you need a gold mining license?
So the govt get more money from u ie fishing licence hunting licence
How much gold would it take to put US back on the gold standard?
All the Gold ever found in the history of the world isn't enough put the U.S. back on the Gold Standard at the current price of $1725, as of 11-18-2011. Currently the U.S. has just over 8500 tonnes of gold in its possession. The Gold that is quoted in U.S. Dollars is approximately worth $450 Billion dollars. The National Debt is now over $15 Trillion Dollars... at 10% of just the debt we need $1.5 Trillion dollars worth of gold. We are currently at just over 2%. The Bottom line is the value of gold must increase in value 3 times of what it is today or $5175. The Problem is our national debt continues to grow If we go back to a fractional gold reserve currency gold would triple again and who is going to provide the gold when your currency isn't wanted in the world because you ran your deficits through the roof. Now, nations will want their money back in gold, which would put the U.S. at a weekend stance of giving more of its reserve currency then it would want too. Circa 1971, that was the exact reason we came off of it.... France, under Charles De gaulle began requesting their money in gold as opposed to our fiat currency. Causing a major run on the dollar at the time. As well as run on our reserves of gold. JBthird Flint, MI
How much money does America have?
more like 44 trillion dollars... $44,000,000,000 No. Need to take the gold reserves, and convert them into grams and then convert it to normal rates. Most of USAs money is in gold correction... 44 trillion dollars = $44,000,000,000,000 that sounds more like Americas wealth
How do you get money from your boyfriend without looking like a gold digger?
Ask politely. Explain why you need it. Offer to pay him back.
Why could Ireland not print more money?
In order to print money you need the gold to back up the printed banknotes in order to keep and even balance
Can a business test your gold jewelry offer you a price for the gold pay you for the gold items after you agree to the price and weeks later take the money back saying it wasn't gold after all?
I am pretty sure that they cant because if they test it and pay you for it then they check again and its not gold its not you they can take the money from you it will be the employee who tested it they need to get not you
Do you need a license to purchase gold from mine?
No, you dont need a liscence just money
How do you make money in Doodle God?
You can't make a bank in doodle god. Plus if you could you would need money+human=bank.
How do you have a pet on ameba pico?
You need to have real money or "Ameba gold"
What do you need to do to get your ex back?
Lots of money
Is there a website that offers free online printing services?
Yes, there are many online printing services that are free of charge, some include uprint and print me. Online printing services are good when you have little money and need something printed to look professional.
What amount of gold require for one lakh loan?
Assuming the question was about loan, gold is not a necessity. You need to convince the lender that you are in a position to pay back the money plus interest. If that fails, you may need to provide some form of surety whose value will depend on the likelihood of default.
i need money for a car ?
how can i get it i need a way back an forth to work
my home is in need of repair. i don't have the money to repair. can i get i done with out paying money back?
can i get my home repair without paying money back . i dont have the money to get it done
Do you have to pay interest back when you get a government grant?
No, when you get grant money you do not need to pay any of it back. Think of it as FREE money.
