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I'm far from an expert on economics, but I thought a large part of the value of a currency is the country backing it. If you are a business in the US, you are r
by openasocket 11y ago
I'm far from an expert on economics, but I thought a large part of the value of a currency is the country backing it. If you are a business in the US, you are required to accept payment in the form of US legal tender. i.e. Walmart can't decide tomorrow that they will only accept rubles (or, more relevantly, Bitcoin). So as long as there are people in the US doing business, the US dollar retains value.
- sanswork 11y agoWalmart actually can decide that they will only accept rubles they just can't enforce it for debts. So if you owe them money they have to take USD but if you want to buy something they can say they will only accept rubles.