Gold Offset
Gold Offset
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 5 PACK GOLD 1 4 1 4 OFFSET PEDAL COUPLER CONNECTOR  US $17.99
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 10 PACK GOLD 1 4 1 4 OFFSET PEDAL COUPLER CONNECTOR US $31.49
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 GOLD OFFSET EFFECTS PEDAL COUPLER 1 4 1 4 CONNECTOR US $3.55
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 GOLD OFFSET EFFECTS PEDAL COUPLER COUPLERS US $3.55
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What is the current value of the US dollar?
Are money is suppose to be all the worth we have in gold and siver etc., but if we are not getting more gold and silver etc. than what is our money worth. We just created 700 billion on a bailout, so did we just dig up 700 billion dollars of gold and silver to offset that. Is our money worth the paper its written on? Could this cause inflation?
Our money is worth whatever people believe it's worth, but it has absolutely no value beyond the value of the paper it's printed on (about $.03 per bill). We abandoned the gold standard in the 70s (even though it was not a strict gold standard anymore). Dollars used to have printed upon them, "Will pay the bearer on demand." Bills were just pieces of paper that served as certificates that you could actually take to the treasury and redeem for gold or silver if you wanted. This kept the value of the dollar pretty stable.
Now we have a fiat currency (which means the currency has absolutely no inherent value or backing) administered by a group called the "Federal" Reserve, which is not a federal institution at all but a group of private banks who, although they claim to be accountable, have never really been fully audited. Basically our taxes go to pay off the debt to the federal reserve, and that's it. When our government needs money, the treasury department tells the Fed we want to borrow X dollars from you. So the Fed literally prints money into existence, and it's cost is at the most $.03 per bill, which it then lends to the government for the actual face value of the bill PLUS INTEREST, which the Treasury says it will pay back, even though this is completely impossible, since in order to pay it back, they would have to gather every bill ever printed, and give it to them, but then they would have nothing left with which to pay interest on the loan. Seems like a pretty good deal for the Fed.
But to answer your question, the value of the dollar dropped very drastically, almost instantaneously, when the gold standard was abandoned in 1972 (see the chart in the link below). From around the end of WW2 until around 1970, the dollar had been fixed at a value of 1/35 of an ounce of gold. After we abandoned the gold standard the price of gold skyrocketed (which means the value of dollar plummeted). So the price of gold since then has gone from a pretty steady $35/ounce to what it is now, which has been around $850-$900/ounce for the last few weeks.
So right now, our dollar is worth at most, about 1/850th of an ounce of gold.
In other words, it's worth about $.03, plus whatever people are willing to believe it's worth.
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