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All of them produced large amounts of paper money -- many times the amount they could exchange for gold or silver.

VOA: special.2009.01.01

The Treasury Department would buy the silver with new paper money that could be exchanged for silver or gold.

VOA: special.2010.06.17

The government would pay for the silver with paper money -- treasury notes -- which could be exchanged for gold or silver money.

VOA: special.2010.06.03

In days of old, money-strapped monarchs reduced the gold or silver content of their coins.

FORBES: Magazine Article

Perhaps a better argument can be made for other scarce metals: platinum, say, or silver.

ECONOMIST: Buttonwood

The dollar has no intrinsic value and is not backed by any reserves of gold or silver.

FORBES: The Optimum Asset Allocation to Gold Is Always Zero