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The greenback has not been backed by gold or a gold standard since 1966.
Nor have any other currencies for that matter,when was the last gold audit done
on Fort Knox?,,, like most of the world the reserves of gold held by the central
banks have been sold over the years. Especially in the last two years Argentina,
Switzerland and Australia to mention a few that have sold off great gold
reserves.
Yes,,,Central Banks do print money without any backing,,,, gold or otherwise!
No longer is "paper money" redeemable for gold!!
SJ Noonan
"not superman but simpleman"
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