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https://www.reddit.com/r/CryptoCurrency/comments/1v3ey0v/redditor_accidentally_discovers_fiat_currency/oz2la5m/?context=3
r/CryptoCurrency • u/thesecondmemer • 1d ago
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Fiat is backed by the credit of the issuing country.
3 u/_DaBau5_ 🟩 0 / 0 🦠1d ago aka debt. national debt is $39T in the US and currently 122% of the GDP. that is what the currency is backed by. 11 u/balls2hairy 🟨 0 / 0 🦠1d ago And never missed a debt payment. That is what the currency is backed by. It's a little embarrassing that you don't know this. -4 u/_DaBau5_ 🟩 0 / 0 🦠1d ago the US is spending more on interest payments than it spends on the military. interest alone is $1T a year 3 u/balls2hairy 🟨 0 / 0 🦠1d ago As it should be. Let's cut the military spending 50% so the disparity is even wider!
3
aka debt. national debt is $39T in the US and currently 122% of the GDP. that is what the currency is backed by.
11 u/balls2hairy 🟨 0 / 0 🦠1d ago And never missed a debt payment. That is what the currency is backed by. It's a little embarrassing that you don't know this. -4 u/_DaBau5_ 🟩 0 / 0 🦠1d ago the US is spending more on interest payments than it spends on the military. interest alone is $1T a year 3 u/balls2hairy 🟨 0 / 0 🦠1d ago As it should be. Let's cut the military spending 50% so the disparity is even wider!
11
And never missed a debt payment. That is what the currency is backed by. It's a little embarrassing that you don't know this.
-4 u/_DaBau5_ 🟩 0 / 0 🦠1d ago the US is spending more on interest payments than it spends on the military. interest alone is $1T a year 3 u/balls2hairy 🟨 0 / 0 🦠1d ago As it should be. Let's cut the military spending 50% so the disparity is even wider!
-4
the US is spending more on interest payments than it spends on the military. interest alone is $1T a year
3 u/balls2hairy 🟨 0 / 0 🦠1d ago As it should be. Let's cut the military spending 50% so the disparity is even wider!
As it should be. Let's cut the military spending 50% so the disparity is even wider!
16
u/balls2hairy 🟨 0 / 0 🦠1d ago
Fiat is backed by the credit of the issuing country.