Genesis Mining, a cryptocurrency miner, found that one-third of Americans believe the US Dollar is still backed by gold. The dollar has not been backed by gold since 1973.
The survey, conducted in late September, included 1,000 participants. Its goal: to determine just how much U.S. citizens understood money. In late October, the miner found that 29% of those surveyed believed a gold reserve backed the U.S. dollar. 24% of respondents answered that the Federal Reserve was tasked to secure the nation’s gold reserve. Read More