What is the difference between dollar 1 and 2 and also dollar 3 and 4?
IMHO there is only a gold backed dollar and a fiat dollar
Discussion
**US dollar (before 1944, gold standard)**:
- **Coverage**: Fully backed by gold.
- **Period**: 1792–1944.
- **Special feature**: Dollars could be exchanged for gold.
2. **US dollar (Bretton Woods system, 1944–1971)**:
- **Coverage**: Partially backed by gold (35 USD per ounce).
- **Period**: 1944–1971.
- **Special feature**: Other currencies were tied to the dollar.
3. **US dollar (fiat dollar, from 1971)**:
- **Coverage**: None (based on confidence in the US economy).
- **Period**: 1971–today.
- **Special feature**: Money supply can be flexibly controlled by the central bank.
4. **Petrodollar (from 1973)**:
- **Coverage**: None (part of the fiat system).
- **Period**: 1973–today.
- **Special feature**: Global oil trade is conducted in US dollars.
5. **Digital US dollar (future project)**:
- **Coverage**: None (like fiat dollar).
- **Period**: Planned for the future.
- **Special feature**: Electronic currency, similar to cryptocurrencies.
Interesting, but if you follow this logic, you can also define several versions of the roman denarius with different contents of gold.