gold standard
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Puzzle #30 · July 1, 2025
A currency on the gold standard is one whose value is backed by holdings of gold.
The U.S. dollar was on the gold standard, priced at $35 for one ounce of gold, until 1971. Today the U.S. dollar, like the euro, yen and other world currencies are ‘fiat currencies’ meaning their value is backed by the ‘full faith and credit’ of the issuing nation.
Bitcoin is not a fiat currency, as no institution backs its value.
The U.S. dollar was on the gold standard, priced at $35 for one ounce of gold, until 1971. Today the U.S. dollar, like the euro, yen and other world currencies are ‘fiat currencies’ meaning their value is backed by the ‘full faith and credit’ of the issuing nation.
Bitcoin is not a fiat currency, as no institution backs its value.
Puzzle Appearances
The expression gold standard has appeared in 2 puzzles:
- Puzzle #30 on July 1, 2025
- Puzzle #166 on November 14, 2025
Rate of Appearance in English Language Print
Google's Ngram project shows how often a pair of words has appeared in print every year since the 1800's.
Data from Google Books Ngram Viewer. Licensed under CC BY 3.0.
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