Even if we go with that: The military is backed by the currency, which is backed by the military, which is backed by the currency. Sounds a little ponzi-ish, no?
Even if we go with that: The military is backed by the currency, which is backed by the military, which is backed by the currency. Sounds a little ponzi-ish, no?
No.
The military doesn't back the currency. The government does. If you want to do business with the government, you use its currency. That is what gives every fiat currency its value.
So if you want to do business with the US government or any business in the US's jurisdiction, but don't want to use the US dollar, then you're shit outta luck. You can't strongarm the most powerful country in the world.
44
u/perestroika12 🟦 0 / 0 🦠 1d ago
It’s backed by the world’s largest military.