I declared that “dried Cow Patties” were an artificial currency, and since I have a lot of them with a value that I set, it is worth more than Exxon/Mobil and Bit-Coin.
It no more artificial than the dollar.
The dollar is not backed by anything and the Fed prints money whenever they want to. You know Quantum Easing Unlimited?
That’s why China is abandoning the dollar. They know the Central Banks will just print off their debt to pay the T-Bonds. Thus, they will have a bunch of worthless money while we have the assets.
China, Russia, India, etc.. are all buying into Crypto.
Ditto Goldman Sachs, JP Morgan and the Bank of America.