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Fun theory: the only reason the USD has intrinsic value is because it is required for paying taxes for anyone living or doing business in the United States. It
by qgin 5y ago
Fun theory: the only reason the USD has intrinsic value is because it is required for paying taxes for anyone living or doing business in the United States. It puts a legally-mandated floor on the demand for the dollar and provides the assurance that whatever happens in the world, as long as the US government is still standing and the US is an important place to do business, there will be demand for dollars.
If the federal government ever allows other forms of payment for taxes, the USD would be able go to zero as easily as any crypto can today.