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The usd is backed by the U.S. Military, not exactly a net zero proposition.
by swader999 6y ago
The usd is backed by the U.S. Military, not exactly a net zero proposition.
- arcticbull 6y agoNope, the U.S. is backed by the U.S. military, the currency is a freeloader. Whether the currency was bits of string, fiat dollars or Bitcoin, the U.S. military would be the exact same size. Because the military doesn't run around like a body guard for dollar bills, it furthers America's sovereign interests wherever those happen to be located.
- swader999 6y agoTell that to Libya.
- arcticbull 6y agoWhat should I tell them exactly? That the size of the US Army will be exactly the same no matter what currency America uses? I think they already know that.
- anyfoo 6y agoSo if the world switched to 100% bitcoin, the militaries of the world would cease to exist?
- swader999 6y agoWars would be harder to finance so it would be a good start.
- arcticbull 6y agoWars would not be any easier to finance in a Bitcoin economy. America had no trouble going to war under the gold standard - and frankly organized and structured debt just makes it easier still. Remember the vast majority of US debt is held domestically by Americans. All that is to say [citation needed].