I thought most currencies had moved away from being backed?
i.e. in ye olden days I could go into a bank with their promisary note and they'd have to give me a specific amount of gold in exchange, but that this is no longer the case?
@Dammit started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
I thought most currencies had moved away from being backed?
i.e. in ye olden days I could go into a bank with their promisary note and they'd have to give me a specific amount of gold in exchange, but that this is no longer the case?