The value of currency and how it impacts our national debt.

You can rate this post. Register or login now and tell us what you think. The Gold Standard is where our currency is backed up by actual gold (remember Fort Knox, where we used to store our gold?). Inflation is the difference between the actual amount and value of gold we have in comparison to the amount of money we have printed and in circulation. If we have more money printed and in circulation than gold to back it up, we have an inflated dollar (one that is not actually as valuable as it, on its face, is supposed to be). We abandoned the Gold Standard in the 1960's. Johnson abandoned the Gold Standard during the Viet Nam war. What happened is that the administration printed money trying to keep the economy going without us really knowing how much money was being spent in Viet Nam (because of all the opposition to the war).... [read full story]