You're completely right. Prior to 1973, you could walk into a reserve with a dollar and come out with a dollar's worth of gold. Due to inflation these days, the dollar is worth much less than before, as you pointed out.
Thanks for your comments!
You're completely right. Prior to 1973, you could walk into a reserve with a dollar and come out with a dollar's worth of gold. Due to inflation these days, the dollar is worth much less than before, as you pointed out.
Thanks for your comments!