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Re: Predatory Sparrow 

By: monkeytrots in GRITZ | Recommend this post (2)
Thu, 19 Jun 25 4:14 AM | 15 view(s)
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Msg. 09927 of 10005
(This msg. is a reply to 09925 by De_Composed)

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Didn' say backed by gold.

It is backed by the US Economy, as legal tender for all transactions. It is an IOU, payable in exchange for goods and services. It is backed by the population of the US who willingly accept it. IE. the government.

If nobody accepted it in the US, it would have no value.

Ditto if we the people 'issue' unlimited/infinite numbers of said stuff. Vietnamese currency is of no value as a 'currency' in the US ... unless, of course, one has an exchange where it can be 'traded' for dollars. Otherwise, no value in US.




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The above is a reply to the following message:
Re: Predatory Sparrow
By: De_Composed
in GRITZ
Thu, 19 Jun 25 3:51 AM
Msg. 09925 of 10005

mt:

Re: “Currencies have governments backing them. Crypto has nothing.”
What gave you that idea?












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