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Does the U.S.have enough gold and silver to pay our national debt ?
I hope someone has the real answer.
2 Answers
- 1 decade agoFavorite Answer
The US national debt is, like US banknotes, backed by "the full faith and credit of the US government". The US national debt isn't backed by gold or silver in any form.
The answer to your question is No, and the US gold reserve would pay less than 2% of the national debt. No country in the world backs its currency or debt with gold any more.
- T ELv 71 decade ago
no, it does not
but then again, countries dont use gold and silver to back up their national debt anymore..and it is in god we trust
