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Yup. Every USD is backed by nothing except the full faith and credit of the US government. Let that sink in. Nothing = we have a fiat currency.
investopedia.com/terms/… - though I take exception to the last statement in the video.
Money is a fiction. Another rabbit hole. Heck, our whole "reality" is a fiction, which many are now awakening …
Yup. Every USD is backed by nothing except the full faith and credit of the US government. Let that sink in. Nothing = we have a fiat currency.
https://www.investopedia.com/terms/f/federal-reserve-note.asp - though I take exception to the last statement in the video.
Money is a fiction. Another rabbit hole. Heck, our whole "reality" is a fiction, which many are now awakening to.
Some oligarch of the early 20c (even before we went off the gold standard) is at least rumored to have said something along the lines of: If Americans understood how finance really works there would be a revolution before tomorrow morning. All classes of "lessers" have been played for thousands of years. That might (might) be coming to an end, related closely or consequentially to the Trump administration. Buckle up.