Congressman Ron Paul of Texas was recently interviewed by Al Korelin.Ron Paul sits on the Banking Committee in The House of Representatives. He makes an interesting comment. Members of the committee actually believe that the US Dollar is backed by gold. This is incredibly naive thinking.
The dollar has not been attached to gold since Nixon closed the gold window in the early seventies...and even then it was only superficially associated with gold.
Here is a link to the interview with Ron Paul.