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Is the Euro currency backed by the gold standard?

My question is: Is the Euro currency backed by the gold standard? 2nd question: Why did the US remove its currency from the gold standard in the 70's, and does the US government have any plans to restore it to the gold standard, as a means of reinforceing its value and confidence in the world market?

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2 Responses to “Is the Euro currency backed by the gold standard?”

  1. PokerDonkey Says:
    April 25th, 2008 at 6:06 am

    No and No.

  2. shortcrust Says:
    April 25th, 2008 at 6:06 am

    No currencies are backed by a gold standard anymore and the US government has no plans to go back to the standard.

    This site is quite technical and involved, but it should help to explain.

    http://www.j-bradford-delong.net/Politics/whynotthegoldstandard.html

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