Comments on: ever since the the US$ has been off the gold standard, is it fair to say the currency is backed by real GDP? http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/ Discussion of Forex Trading and Currency Trading Tue, 22 May 2012 04:00:02 +0000 http://wordpress.org/?v=2.3.3 By: Ben S http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6191 Ben S Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6191 The dollar is backed only by the full faith in the U.S. government. ;o) The dollar is backed only by the full faith in the U.S. government.

;o)

]]> By: ideogenetic http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6192 ideogenetic Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6192 No. It's backed by petro-dollar hegemony. In exchange for military protection of the oil monarchies, the monarchies agree to sell oil denominated only in U.S. dollars. There has been an inverse relationship between real GDP and the value of the dollar since they closed the gold window. As real GDP has risen, the dollar has fallen. Our real GDP is financed by massive debt. That would kill the dollar even more than it has in a rationally functioning global economy, if the countries who export to us were unable to turn around and use our dollars to buy oil denominated only in dollars. No. It's backed by petro-dollar hegemony. In exchange for military protection of the oil monarchies, the monarchies agree to sell oil denominated only in U.S. dollars.

There has been an inverse relationship between real GDP and the value of the dollar since they closed the gold window. As real GDP has risen, the dollar has fallen.

Our real GDP is financed by massive debt. That would kill the dollar even more than it has in a rationally functioning global economy, if the countries who export to us were unable to turn around and use our dollars to buy oil denominated only in dollars.

]]> By: Physfreak http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6193 Physfreak Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/08/01/ever-since-the-the-us-has-been-off-the-gold-standard-is-it-fair-to-say-the-currency-is-backed-by-real-gdp/#comment-6193 I agree with the above answer, our money is backed by debt-and it's killing the dollar. We need to get back on the gold standard and stop diluting the dollar's value www.campaignforliberty.com I agree with the above answer, our money is backed by debt-and it's killing the dollar. We need to get back on the gold standard and stop diluting the dollar's value

http://www.campaignforliberty.com

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