Re:Bitcoin Gold Hit by Double Spend Attack, Exchanges Lose M...
by JumpCrisscross on Wednesday May 23, 2018 @10:49PM
(#17140654)
> You don't consider a country's reserve assets to be a factor in their monetary system?
The U.S. dollar isn't backed by gold. The total value of the gold at Fort Knox, about $100 billion, is negligible [1] and does not appear on the Federal Reserve's balance sheet [2]. It is mostly an anachronism from the eras of the gold standard.
The U.S. dollar isn't backed by gold. The total value of the gold at Fort Knox, about $100 billion, is negligible [1] and does not appear on the Federal Reserve's balance sheet [2]. It is mostly an anachronism from the eras of the gold standard.
[1] https://en.wikipedia.org/wiki/United_States_Bullion_Deposito...
[2] https://www.federalreserve.gov/monetarypolicy/bst_fedsbalanc...