Agreed. Upvote. And those banks get their legitimacy from the federal reserve system which provides a stable interbank payments system as well as deposit insura

Agreed. Upvote. And those banks get their legitimacy from the federal reserve system which provides a stable interbank payments system as well as deposit insurance. Also, money is created when the federal government spends more than it taxes. You are right in pointing out that there is a lack of understanding of what modern money is and where it comes from. For better or worse, its a creature of the state. This article touches on some of it : http://dailyreckoning.com/the-real-reason-the-u-s-dollar-has-value/ http://dailyreckoning.com/the-real-reason-the-u-s-dollar-has...