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>> any currency has value because people believe it There is no contradiction. Your rant is coming across like all currencies are the same, they are not. Peop
by yathaid 4y ago
>> any currency has value because people believe it
There is no contradiction. Your rant is coming across like all currencies are the same, they are not.
People tend to believe the U.S. Govt more than say Venezuela (no offence).
Even amongst currencies, the USD is special due to the underlying tie to oil sales. See https://www.lynalden.com/what-is-money/ https://www.lynalden.com/what-is-money/ for a much better introduction than I could ever give.
- carlosjobim 4y agoThe tie to oil sales is not exactly that. The USD is tied to the threat of military force by the Federal Reserve's government. You will get bombed if you don't trade your oil in USD.