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OpenStudy (anonymous):

Is United States currency officially "backed" today? Yes, legal currency is backed by the gold standard. Yes, legal currency is backed by government acceptance. Yes, legal currency is backed by the support of foreign investors. No, there is no backing for U.S. currency.

OpenStudy (anonymous):

it's either yes, legal currency is backed by government acceptance. or no, there is no backing for the us currency - reason being, the gold standard for the us currency was taken off by president nixon back in 70s i believe.

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