Actually, it's the "real" money that has no gold backing...

Hi, Roadie --

I don't know much of anything about DXgold or other e-currencies except what I've read here, so I can't really comment either way.

BUT, I've got a mind for trivia and semmed to remember reading about "fiat money" and checked it out. When you speak about currencies being backed by gold, perhaps you don't know that the US DOLLAR and most other currencies are NOT BACKED BY GOLD, either.

Below is the summary from wikipedia.com as well as the link to the page (which talks about the dollar's history, etc.).

Hope this helps the discussion (but may just make it all the more confusing).

Eve §:)

Fiat standard
Today, like the currency of most nations, the dollar is fiat money without intrinsic value, which means that it has no backing and would be entirely worthless but for the fact that people have been persuaded to use and accept it as if it had worth.

In 1963 the words "WILL PAY TO THE BEARER ON DEMAND" were removed from all newly issued Federal Reserve notes, then in 1968 redemption of pre-1963 Federal Reserve Notes for gold or silver officially ended. The Coinage Act of 1965 removed all silver from quarters and dimes, which were 90% silver prior to the act. However, there was a provision in the act allowing some coins to contain a 40% silver consistency. Later, even this provision was removed, and all coins minted for general circulation are now 100% clad.

It is important to note that all circulating notes, issued from 1861 to present, will be honoured by the government at face value as legal tender, even if they are not redeemable for gold or silver due to obsolete obligations, ending in 1968. Some bills may have a premium to collectors.

The only exception to this rule is the $10,000 gold certificate of Series 1900, a number of which were inadvertently released to the public due to a fire in 1935. A box of them was literally thrown out of a window. This set is not considered to be "in circulation", and in fact is stolen property. However, the government does not seem to care very much about it, as the banknotes are all canceled and thus off the books. Their intrinsic value is zero, and their collector value is, roughly speaking, around one thousand dollars.

According to the Bureau of Engraving and Printing, as of July 31, 2000, there were $539,890,223,079 in total currency in worldwide circulation, of which $364,724,397,100 was in the $100 denomination.

As of September 2004, it has been estimated that if all the gold held by the U.S. government (261.7 million ounces = 8 140 Mg) was again required to back the circulating U.S. currency ($733,170,953,704), gold would need to be valued at $2,800/ounce (90 $/g).