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So when I was getting paid in dollars, and converted it to my local currency right away, I was proving that USD is a commodity? I could not get anything with US
by dpc_pw 11y ago
So when I was getting paid in dollars, and converted it to my local currency right away, I was proving that USD is a commodity? I could not get anything with USD, so it is not a currency? Interesting.
What people miss is that commodity and currency are not exclusive. And the difference between them does not really matter all that much.
- kbenson 11y ago> So when I was getting paid in dollars, and converted it to my local currency right away, I was proving that USD is a commodity? Yes. It is a commodity. People trade in it every day. > I could not get anything with USD, so it is not a currency? For your use at that location, apparently not. > What people miss is that commodity and currency are not exclusive. Yes, and I said as much in a separate reply. > And the difference between them does not really matter all that much. Except for when they are classified as one and not the other and taxed differently.