The currency of the U.S. that the government prints used to be backed by gold and silver. The U.S. left the gold standard in 1933 when President Roosevelt was in office. The government saw that others countries that were not our allies had most of the gold, this was a threat. Also, the U.S. wanted to spend more money than it had in gold or silver. Going off the gold standard seemed like an easy solution to prevent running out of gold reserves, so the U.S. left the gold standard. Since then, there has been a lot of inflation. Year after year, the government just keeps printing money. It seems it prints as much money as it can. This is bad for citizens that try to save money because their savings is worth less and less every year. If the government keeps spending money like this, it will eventually result in bankruptcy for the country. Then everybody’s money is worth nothing.
But now we can’t go back to the gold standard. There isn’t enough gold and silver. The solution is for the government to not print so much money. Everybody has to pay for the things they want or need with money that they have worked for.
Lawboy-
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