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<p>[QUOTE=&quot;rodeoclown, post: 1326178, member: 34005&quot;]Can you point out where in the act that this 1913 law required these hard assets (gold) to back &quot;base money&quot;? But then again, you dodged the question of the Nixon Shock in 1971 that likely trumps the Federal Reserve Act basically making our current currency a fiat currency, or &quot;let it be done&quot; in Latin. Fiat money is money that derives its value from government regulation or law. Yeah, the Federal Reserve and it&#039;s Act in 1913 might require hard assets but what happened in 1971 basically muted this, basically making our money faith based. That&#039;s what I&#039;m pointing out. Gold or no gold, our government says a dollar is a dollar and can be used for the transfer/trading of goods, etc. I back the gold standard myself as putting &quot;faith&quot; that paper money is worth what is printed on it is asinine when you really think about it.[/QUOTE]</p><p><br /></p>

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