The dollar gets its value from the taxing power of the United States and the fact that the Treasury accepts dollars as payment. It’s an insight first used by Alexander Hamilton, when he rescued the Continental Dollar from oblivion. Any good biography of Hamilton will discuss this.
“The dollar gets its value from the taxing power of the United States”
the taxing power of the U.S. is a direct function of the economic might of the U.S. If the economy of the U.S. was on a par with a country like, say, Venezuela, our currency would be equally as valuable as Venezuela’s ...