fix articles 70849, but abdullah
U.S. dollar - a "worthless piece of paper." President Mahmoud Ahmadinejad (tags)
And he is right. A $100 bill is worth the paper it's printed on and backed by nothing else. Up till 1933 the U.S. was backed in gold. You could exchange a $20 bill for an ounce of gold. And up till the 1960's the dollar was backed up by silver. You could go to the mint and trade paper dollars for silver. But now the dollar is backed by NOTHING and a dollar is worth nothing more then the paper it is printed on.