Replies to post #12462 on Iraqi Dinar Discussion Board (IQD)

[strongtower]

Yep and now our dollars are call debt notes.lol

[no19one88]

I believe that's when the dollar was still backed by gold (gold standard) which is no longer the case. the dollar is free floating since 1975.

http://en.wikipedia.org/wiki/United_States_dollar#Silver_and_gold_standards

"Gold coins were withdrawn in 1933 and the gold standard was changed to 13.71 grains, equivalent to setting the price of 1 troy ounce of gold at $35. This standard persisted until 1968. Between 1968 and 1975, a variety of pegs to gold were put in place. The price was at $42.22 per ounce before January 1, 1975[citation needed] saw the U.S. dollar freely float on currency markets."

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if the US stayed with the gold standard, the US dollar would be a lot stronger today, imo.