The main reason that U.S. currency cannot be turned in to the government in exchange for a tangible asset such as gold is that: This gives the government more freedom to manage the nation's money...

The main reason that U.S. currency cannot be turned in to the government in exchange for a tangible asset such as gold is that:

This gives the government more freedom to manage the nation's money supply

U.S. currency is the debt of the Federal Reserve Banks

Government officials enjoy acquiring assets and don't want to lose anything tangible

People prefer tangible items, so the government would not be able to satisfy demand for the tangible item at any fixed rate of exchange

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Jun 10, 2022

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