If you get a $1 American Dollar. Federal Reserve Note. Signed off by treasurer and secretary. Back side of $1 GOD at the center, IN GOD WE TRUST/ONE
Faith-based dollar, 195 countries in existence on Earth, only one says in GOD WE TRUST. The only legal currency backed by faith instead of instead of material like gold because GOD is gold . On the left side of the dollar you see the triangle with the eye on top the eye is the eye of God the all seeing eye omniscient omnipotent triangle pyramid trinity,father, son, holy Spirit. Above the triangle it says ANNUIT COEPTIS, the meaning is God favors our undertakings thatâs why the bill is faith-based originally and still today the entire basis of the dollar the country the founding fathers
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If English was our official language, we could have had âIn cod we trustâ on one of our bills:
Image source: Central bank of Norway
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The US dollar WAS gold-backed until 1933 (and was convertible to gold upon demand until 1971).
In addition, the US dollar is not unique in having abandoned the gold standard during the previous century. ALL currencies did so. At the present time NO currency is backed by gold.
So much for your claim that the US dollar is unique in not being backed by gold!
Of course thereâs a sense in which the dollar, and all currencies, are âbacked by faithâ in the sense of âa mutually shared fictionâ because they only have value because enough people widely agree that they do. Once people start to doubt the stability and creditworthiness of the issuer (as is currently happening big time with the US dollar), that can change relatively quickly. Most financial experts expect the US dollar will not much longer be regarded as the worldâs âreserve currencyâ. It is falling as US bond prices rise â a very bad sign, especially if stocks enter into an extended precipitous fall, which they came within a hairâs breadth of this past April and could very easily go back into free fall for any number of good reasons in this environment.
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Iâm not aware of any other country whose currency is still tied to the value of gold.
The U.S. got off the gold standard in 1933. FDR issued Executive Order 6102 that required everyone to turn over all gold to the government (with the exception of collector coins, jewelry, and a few others). It wasnât legal to own gold in the U.S. until 1975.
Annuit Coeptis comes from Virgilâs Aeneid, which was written before christianity came into being, so you can consider it pagan in origin.
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I remember this being announced under a Labour Govât / Chancellor, I believe it was Gordon Brown from memory.
Well it appears he sold off half of our gold reserves.
"Dubbed âBrownâs Bottomâ, the sale of half of the UKâs gold reserves between 1999 and 2002 by then-Chancellor Gordon Brown is considered a particular low point in British history.
Today marks the 20th anniversary of this event, so we revisit Gordon Brownâs mistakes; how a cautious Chancellor let down his guard and undersold more than half of Britainâs gold reserves."
It gets worseâŚ
"The total sale of the gold bullion sold was $3.5 billion, at $275 per ounce average sale value. It is somewhat ironic that Gordon Brownâs attempts to make as much money as possible from a staggered sale resulted in over $100 million less for the gold compared to when the sale hadnât been announced, but itâs damning just how much more that gold would have been worth further down the line. Gold was $921 per ounce early in May 2009, which would put the gold sold at $11.8 billion in value - $8.3 billion more than Brown got. The 20-year price rise is worse still, with gold currently at $1,279 per ounce. This would make the gold bullion worth $16.4 billion - $12.9 billion more than was received in 1999."
Ouch!
Itâs also worthwhile to point out to the OP that whatever gold a nation may possess does not mean itâs tied to its currency. The US has enormous amounts of gold in Fort Knox, and however unwisely some of it was sold off, the UK (and many other nations) hold gold reserves. They are just not proxies for anyoneâs currencies anymore.
Although itâs looking like this was a drive-by posting and we wonât be hearing more from the OP anyway. One of those imagined truth-bombs / âgotchasâ lobbed into the middle of a den of iniquity, and supposed to rattle us or something. It continues to amaze how the flies buzzing around inside such peopleâs heads have convinced them they have evidence for their god that is actually just incoherent gibberish.
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As others have suggested: I canât name a currency that is backed by anything other than faith. It seems like youâve been listening to the lunatics.
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It appears the newcomer discovered the concept of fiat money in a high school economics class, and wet himself at the ramifications âŚ
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