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<p>[QUOTE=&quot;InfleXion, post: 1702356, member: 29012&quot;]Yes, paper dollars 100% backed by gold or silver on deposit at the US Treasury, which were exchangeable for metal at that value. Which were representations of gold and silver coinage that was specifically outlined in the Coinage Act of 1792 with how many grains of gold or silver constitutes a dollar, thus the original definition of what a dollar is. Paper today is not the same as the paper you are referring to, because that paper really was as good as gold. </p><p><br /></p><p>It was the Fed who was responsible for printing money without adding to the gold supply, and thus creating the disconnect that forced us to eventually close the gold window.</p><p><br /></p><p>But we can&#039;t blame the Fed for this directly. They were doing what they had to do in order to keep the nation from defaulting because of spending beyond our means.</p><p><br /></p><p>Whether those who run the Fed used their power over our money to coerce politicians into doing their bidding, or the bidding of whoever they report to in Basel, we can only speculate.[/QUOTE]</p><p><br /></p>

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