Money

[billy]

How is it created? What is it backed by? Who creates it? Who controlls it? Lets narrow it down to the U.S.A. and apply these questions to it for starts.
I am sure you all as I do have some idea's on this topic but how accurate they really are we will try and find out.

used to be based on the gold standard.

how much gold you had and what the value of gold was dictated how much money you could circulate.
now it not based on gold.

gov dictates how much is in circulation and markets dictate its value. i think that if a country prints more than it has coming in, it's classed as owing that money. at some poing it has to be paid back

not sure but i'd say now the amount of money out there is worked out on the gdp of a country.

money is given to banks by the fed reserve and is basically a loan.
the fed sets how much money can be borrowed (made and lent)

so at present the usa is in debt up to it's adams apple. because it prints more than it has.