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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.
What else can I help you with?
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 did colnelel Henry knox drag 300 cannons from fort ticonderoda to Boston?
Colonel Henry Knox led an expedition to transport 300 cannons from Fort Ticonderoga to Boston during the winter of 1775-76. He used a team of oxen and sleds to haul the heavy artillery over 300 miles of rugged terrain. The journey involved careful planning, including selecting suitable routes and making use of ice and snow to facilitate movement. Knox's successful delivery of the cannons significantly bolstered the Continental Army's capabilities in the Siege of Boston.
Henry knox was an artillery officer which weapons did this man use?
Henry Knox, an artillery officer during the American Revolutionary War, primarily used cannons and artillery pieces such as the Continental Army's siege guns. He was instrumental in transporting heavy artillery from Fort Ticonderoga to Boston, which included cannons like the 6-pounder and 12-pounder field guns. In addition to these, his efforts advanced the use of howitzers and mortars in battle, enhancing the effectiveness of American artillery forces.
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
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?
How did colnelel Henry knox drag 300 cannons from fort ticonderoda to Boston?
Colonel Henry Knox led an expedition to transport 300 cannons from Fort Ticonderoga to Boston during the winter of 1775-76. He used a team of oxen and sleds to haul the heavy artillery over 300 miles of rugged terrain. The journey involved careful planning, including selecting suitable routes and making use of ice and snow to facilitate movement. Knox's successful delivery of the cannons significantly bolstered the Continental Army's capabilities in the Siege of Boston.
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
