G O L D

that's racist

>Why did the gold-backed US dollar stop being backed by gold, silver, etc?
To allow the government to pump money into the economy and lower interest rates.

> Isn't it just pieces of worthless green paper now?
Yes, albeit backed by a manufacturing powerhouse and war machine juggernaut.

>Doesn't the government now have the ability to just create dollar bills at the press of a button?
Yes.

A gold backed currency means you must first have gold to create your currency.

I.e. you have to discover new deposits to print more paper.

Hopefully you can see how not being able to control the supply of your own countries money can be a problem.

It leads to vast devaluation and most agree was a primary contributor to the great depression.

"We can not crucify the American people on a cross of gold".

Asteroid mining will cause a massive drop in the prices of gold, silver, etc.

>yes goy, usury works best for everyone, have some debt
>don't question where money comes from lol
>gold and silver are but barbaric relics that is why we absolutely not manipulate them daily
>inflation stimulates the economy, it works in your favor
>no, LIBOR rates aren't for goyim like you how would we swindl... I mean serve your banking needs

Majority of international transactions are in dollars, especially oil trade. Like for example Saudis made a deal with US to sell their oil in dollars, and they sell it mostly to Asia and Europe.
So countries will always have a demand of dollar.
And it's all backed by US military. If you disagree - expect Nimitz near your shores.

because other countries who held US currency started asking for the gold it represented instead.

The US actually started handing out tons of gold, the absolute madmen

holding another currency serves the same effect as it would if you had taken stock in a company. the company represents a security and definite value, and your holding represents a trust in that value. dollars are the standard because of fuck massive GDP and power projection

Red pill me on Gold. Why is it worth so much?

portable, malleable, easily identifiable, scarce, unreactive, known to all mankind
it's much undervalued compared to fiat
problem with gold is that most of it sits in vaults while the kikes trade paper gold that doesn't exist in reality to manipulate its price at the same commodities exchange used to trade actual physical gold