Gold Standard
23
Jan/100
Jan/100
Who still has the gold standard backing up there money?
Hello! Thank you for taking the time to answer my question. I am just curious to find out which country still uses gold and maybe silver to back there currency? I have read the U.S. use to back up the dollar with gold until 1971 President Nixon took the gold standard off. I could be wrong but there has some other country besides Switzerland that still uses gold money standard. Also I would appreciate any references to gold and why it is the best for backing up money / currency. Thanks!
No country uses the gold standard any more.
Switzerland was the last country to abandon the gold standard, in 1999. See the articles linked below for more:
http://en.wikipedia.org/wiki/Gold_standard
http://www.nytimes.com/1999/04/19/world/swiss-narrowly-vote-to-drop-gold-standard.html
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