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It is less of a dollar, because I can say you can exchange it for a dollar when you can not, in fact, exchange it for a dollar when you try to,because I never h
by thatguy0900 4y ago
It is less of a dollar, because I can say you can exchange it for a dollar when you can not, in fact, exchange it for a dollar when you try to,because I never had enough(or any) dollars. In the real world when the bank runs out of dollars the government will give me dollars instead.
- aeternum 4y agoFor US citizens perhaps, but if you're a Russian citizen or company, the USD in your bank account is now just a worthless database entry. Just because that weapon hasn't been pointed at some group of US citizens yet doesn't mean it can't in the future.
- jacquesm 4y ago> In the real world when the bank runs out of dollars the government will give me dollars instead. Up to a point.
- rufusroflpunch 4y agoI think that is a fair critique, but that will be coming at some point, very likely. Either a law requiring 100% liquid reserves, or a law bringing them into the FDIC system.