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When modern countries try to maintain a currency peg, like the BoE example above, they are also not really ‘backed’ in the sense I think you mean.
by dan-robertson 4y ago
When modern countries try to maintain a currency peg, like the BoE example above, they are also not really ‘backed’ in the sense I think you mean.
- bo1024 4y agoBut it seems they do try to participate in the market in order to move demand so that the price stays at 1. Which is just not how UST is designed at all. So I’d like to understand the difference.