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Nah. It's backed by cash and cash equivalents mate.
by BrissyCoder 5y ago
Nah. It's backed by cash and cash equivalents mate.
- natch 5y agoSo in other words, long term, it's backed by toilet paper.
- BrissyCoder 5y agoI think that kind of paper wouldn't make for a very comfortable ass wiping so no - lacking the utility of TP.
- post_from_work 5y agoThe toilet paper is backed by nuclear weapons and the world's most offensively-capable Navy and Air Force (arguably no longer the world's largest Navy so I clarified the metrics).
- natch 5y agoCan’t put my finger on why that backing seems dubious. Didn’t I read about a smackdown somewhere recently done by some ragtag dudes with Kalashnikovs? Talibsomething.
- post_from_work 5y agoYou mean the country where half the population might starve this winter because the only money they have is frozen in our banks? https://acaa.org.uk/blog/frozen-assets-and-freezing-temperatures-afghanistan-faces-a-starving-winter/ https://acaa.org.uk/blog/frozen-assets-and-freezing-temperat... The threat of devastation works better on countries that aren't already completely devastated by decades of internecine conflict anyway. It also works better against the non-theocratic adversaries that are legitimately concerned for their own corporeal wellbeing (Qaddafi, Saddam, KJU, Assad).
- boublepop 5y agoYea, they back the value through the crypto they buy using part of what they minted. It’s a brilliant strategy that can never fail because crypto fundamentally can only go up…