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To maybe drive this point home even more, if the US government ceased to exist, or stopped accepting certain pieces of paper and metal as "special", those piece
by tom_mellior 6y ago
To maybe drive this point home even more, if the US government ceased to exist, or stopped accepting certain pieces of paper and metal as "special", those pieces of paper and metal would lose their so-called "intrinsic" value -- demonstrating that that value wasn't intrinsic in the first place.
It's not terribly unusual for old coins and banknotes to be removed from circulation and then losing their status as legal tender. I haven't found examples from the US specifically, but there is no reason to believe that it couldn't be done.
- perl4ever 6y agoPeople use US currency in some other countries now, independently of the US government. Nothing can stop them, and if the US as an entity went away, nothing would continue to not stop them, until the currency wore out, I suppose. Also, I believe I've read that the US does not declare old money invalid like a lot of countries do. It might be a collector's item worth more than face value but in theory you can still spend it.