this post was submitted on 11 Mar 2025
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Value isn't necessarily something tangible. It's what other people think it's worth. The USD doesn't have any more value than the belief people put in it. Do you also think it has no value?
I'm not defending crypto speculation, but it's ignorant to say it doesn't have value if you can buy things with it. Basically all modern money is based on faith, including crypto. Even when it's based on gold or silver, that's aren't actually useful for most people so it's still made up value worth however much people value that.
The usd has value created by virtue of being backed by the usa government. It is not just faith based.
With the current administration, I'd argue we are definitely in "faith based" money right now.
It was originally based on a gold reserve and then taken off to become a fiat currency. Trump is talking about potentially not paying back debts owned to other governments. Definitely sounds faith based to me, there's nothing hard backing it.
It's funny because USA has gone bankrupt several times and most people don't even know or acknowledge it.
Now they just print paper money and violently force people to use it for stolen oil.
A country, itself, cannot go "bankrupt".
You wanna know how we can settle debts, for pennies on the dollar, today, right now?
Mint a 10 gajillion USD coin. Now, pay all debts. Now, destroy 10 gajillion USD coin.
See? Impossible to go bankrupt, if you're the buyer, generator, and seller of something, and there's always a willing buyer.