True, the strength of a currency is ultimately about confidence.
But part of that is assurance of its future value.
In the case of US dollars, that is buttressed by the fact that there are a few things that ONLY US DOLLARS CAN BUY, most notably:
1) U.S. Bonds (The great bond market with its high interest rates as compared with risk)
2) OPEC oil
3) Payment of US Taxes
Yep, even the taxes have a role in structuring the value of our currency ... as long as the economy and our market are worth doing business in!
I’m not sure how to post tweets, but here’s a link. https://twitter.com/FLOTUS/status/1072981511509630976
It’s a Melania tweet. Look at the birds on her hat!
QOVFEFE™