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i generally cannot go to the US government with a dollar to withdraw its worth in gold. US debt is an IOU, but USD is just an object that i can barter with
by 8note 2y ago
i generally cannot go to the US government with a dollar to withdraw its worth in gold.
US debt is an IOU, but USD is just an object that i can barter with
- hattmall 2y agoSure it's not exactly an IOU but it more or less entitles you to a certain bit of the American people's labor or assets. Billions / Trillions of dollars in USD overseas waiting to be traded in is not a good thing for people who aren't in a position of international rent seeking. The average American is harmed not helped by foreign trade.