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I hear a lot of debate over the removal of the U.S. Dollar's precious metal backing and the subsequent inflation rates, but is there any proven relationship between unbacked currency and extreme inflation or is fractional reserve banking by individual corporations more to blame?

In short, what are the real effects of the removal of precious metal backing from the U.S. money supply?

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A policy of low inflation. –  user8077 Oct 16 '11 at 4:23
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