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What do you think the dollar is backed by?
By law? The US dollar is to be backed by silver, specifically 371.25 grains.
In reality, it is backed by nothing, and idiots pretend that the Founding Fathers were rank retards who simply forgot to account for inflation when they wrote and ratified the Seventh Amendment, instead of acknowledging that the Founding Fathers wrote it to work with their precious metal-backed currency that was effectively inflation-proof.
The full faith and credit of the United States Government. (For what it's worth).
Who provides that value to the government?
It's like a popular delusion. The value is made through choice/belief/delusion, just like in the [false] NS model, above.
It's a belief system, just like Crypto, sure you can make money, but true wealth comes from the soil. and distilled, is metals.
(post is archived)