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I think I responded to your other comment, but I don’t think this is true. Do you have any further reading? A currency is not backed by land value. It’s usuall
by junofan 4y ago
I think I responded to your other comment, but I don’t think this is true. Do you have any further reading?
A currency is not backed by land value. It’s usually “backed” by a combination of sovereign debt obligations and its status as legal tender.
- NovemberWhiskey 4y agoI think that's right - fiat currency is not asset backed; in the case of the USD, it's backed by "the full faith and credit" of the U.S. government.