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To: catnipman

It’s not currency. Only governments can issue currency. So what is it? A magic trick that fools people into thinking that running a program can produce something that is actually exchangeable for real currency.

Real currency is based on an illusion too, but it’s backed by the full “faith and credit” of the federal government, which is equal to zero. And those dollars are losing their purchasing power as an out of control government puts more and more unbacked dollars into circulation.


10 posted on 01/01/2023 6:15:52 AM PST by I want the USA back (News media not worth camel spit. My pronouns: Haha, heehee, hoho. )
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To: I want the USA back

“Real currency is based on an illusion too, but it’s backed by the full “faith and credit” of the federal government, which is equal to zero. And those dollars are losing their purchasing power as an out of control government puts more and more unbacked dollars into circulation.”

all true, and the USD works (for now) because it DOES have the three main properties of a functional currency, namely unit of account, store of value, and accepted medium of exchange, that is, you can buy stuff with it ... also, the USD functions as the world’s reserve currency because it’s still the best of the lot ...


39 posted on 01/01/2023 9:34:36 AM PST by catnipman (In a post-covid world, ALL "science" is now political science: stolen elections have consequences)
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To: I want the USA back
"Real currency is based on an illusion too, but it’s backed by the full “faith and credit” of the federal government, which is equal to zero. And those dollars are losing their purchasing power as an out of control government puts more and more unbacked dollars into circulation."

Saying stuff like this on FB will get your account erased.

59 posted on 01/01/2023 1:07:22 PM PST by fella ("As it was before Noah so shall it be again," )
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