Kerberos, gold question for you

[Narcissus]

Kerberos, I remember a while back, when you were describing that 97*-something thing I still do not understand

, you talked about the gold/silver backing the dollar and how we went to a paper standard with FDR declaring a state of emergency during WWII, of which Congress never reinstated. Could you elaborate on that some more, please? I am curious with the price of gold rising and the dollar now falling against the Euro and Yen if we will see the dollar, once again, being based on the gold/silver standard.

BTW, I do not know if this is related (special printing perhaps?) but I have a $1 silver certificate (scan shown). The back side is the same as the normal $1 before the latestr edesign. This is dated 1957.

 

[Narcissus]

Err, 'latest redesign', rather.

Man, I am really out of it today.

 

[shoeio]

Narc,
Kerbie may be able to enlighten you further on this subject , however from my younger days when I would quiz my uncle on his coin collections, he told me the reason currency from the 50's and earlier say gold or silver certificates was simply because that was what they were backed with. Meaning if you have a 1 dollar silver certificate then it is backed by 1 $ of silver. I maybe wrong on a few things in here but I was interested in this so I thought I would throw my .02$ in .

 

[Big O]

Hmmm now I'm confused also, I thought Nixon put on the silver standard. I have a $2 bills silver certificate.

 

[Narcissus]

I am confused as well as I never studied these policies. By the way, this is not one of those 'prove you wrong' threads I so often see. I just would like a briefing of these policies since the past, say, 70 years if possible, so I can better understand what is happening now and what may happen in the near future.