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  #11  
Old 01-14-2022, 12:02 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
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Old 01-14-2022, 12:07 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
It seems ludicrous.
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Old 01-14-2022, 05:23 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
But think about it A1...our currency is valued against gold reserves. The only reason gold is valuable is because we humans say it is. Do we need it, no. I haven't bothered to look so I don't know, what backs up the rest of the worlds currencies? Does it really matter because those could be considered worthless by society too?
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Old 01-15-2022, 04:40 AM
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Originally Posted by Friggemall View Post
But think about it A1...our currency is valued against gold reserves. The only reason gold is valuable is because we humans say it is. Do we need it, no. I haven't bothered to look so I don't know, what backs up the rest of the worlds currencies? Does it really matter because those could be considered worthless by society too?
I thought the US has been off the gold standard for nearly 90 years? The government certainly doesn't have enough gold to back our paper money. They say the dollar is backed by the "full faith and credit" of the US, whatever that means. When our citizens and foreign creditors stop believing in that, the dollar will go the way of the Turkish lira -down, down, down.
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Old 01-15-2022, 07:10 AM
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been off of gold since 1972

Currencies are now based on THE ABILITY FOR GOVERNMENTS TO COLLECT TAXES.

Above is worldwide, thus, bigger your economy bigger the bill.....and then it goes to STABILITY OF GOVERNMENT.

Plain and Simple......

FWIW, Crypto is the Q-Anon of Currencies.......good luck sports fans!
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