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OppressorClass on scored.co
1 month ago 1 point (+0 / -0 / +1Score on mirror ) 1 child
The dollar isn't backed by gold, so it wouldn't matter.
MartinRigggs on scored.co
1 month ago 0 points (+0 / -0 )
It does matter, because the dollar is literally backed by public faith alone, if the public loses faith in our currency, there’s nothing stopping it from becoming worthless overnight. Even the petro dollar situation is dying off. If it becomes public knowledge that the American government doesn’t have thousands of tons of gold hiding away somewhere like Fort Knox, whether the currency is backed by gold or not, people are going to start asking questions like “what even gives the dollar value at all?”, that could become dangerous real quick, and it’s not just what we think about our dollar, it’s what other nations of people think about the dollar.
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