1088
Good question.
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Nov 2023
1088 points (97.7% liked)
A Boring Dystopia
9722 readers
1403 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
Not at all. The dollar’s valuation comes primarily from:
Its backing by a stable economic and governmental system and the projected power of the military controlled by that government
Its status at the global reserve currency
Tokyo, Lisbon, and Santiago don’t hold debt and equity in USD because Phil from Bozeman paid the IRS in that currency.
the only real backing the dollar has is that it's the only currency you can use to pay US taxes
1 is necessary for 2, so 2 isn't really a separate point
They hold debt and equity in USD because USD is stable because there is always a Phil from a Bozeman who needs to pay their taxes, so they money will always have value to somebody