When the United States government backed up the dollar with gold, it was known as arbitrage.

Name: When the United States government backed up the dollar with gold, it was known as arbitrage.
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When the United States government backed up the dollar with gold, it was known as the gold standard, not arbitrage. Arbitrage refers to the practice of buying and selling securities, commodities, or currencies in different markets in order to take advantage of price differences.

When the United States Government Backed Up the Dollar with Gold