answersLogoWhite

0

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.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

Use a land legend to determine the major land near Knoxville TN?

fort knox


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 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


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


Why dont they use pure gold to make jewllery?

It is much too soft.


How do you use Knox Gel?

Can knox gelatine be used in making jams and jellies instead of pectin?


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"


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


What dates were fort King George in use?

what dates was fort king george in use