Sputnik International Nearly 1/3 Americans Believe US Dollar is Still Backed by Gold - Study

29.3 percent of Americans still believe that the US dollar is backed by gold, a new study published by Hong Kong-based cryptocurrency company Genesis Mining has found, cryptocurrency news website CryptoCoinsNews has reported.…

The survey also found that Americans have other misconceptions about banking and finance, discovering, for example, that only 52 percent of respondents know that banks do not hold 100 percent of their customers’ deposits in their vaults, with the other 48 percent answering that they thought they did or “I don’t know.”

The study also asked respondents who decides when more dollars are printed, with 58.8 percent answering the Federal Reserve, 18.4 percent saying they didn’t know, and between 1 percent to 8.8 percent offering answers ranging from “US citizens,” to banks, the White House, Congress, and “the US Mint.”

Based on a survey by a crypto company, but pretty mind-boggling if it is has any relevance to reality. MMT proponents have their work cut out for them.

Sputnik International
Nearly 1/3 Americans Believe US Dollar is Still Backed by Gold - Study