In a way most major currencies are backed by gold and silver right now, just now it's a floating exchange rate. But you are free at any time to exchange your paper for metal.
It's really not that much different now from when there was an "official" gold standard. As back then there was never a 1 to 1 backing anyway.
It's really not that much different now from when there was an "official" gold standard. As back then there was never a 1 to 1 backing anyway.
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