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Actually, I'm attempting to educate; including myself.
Which leads me into a question for anyone more knowledgeable than I:
Is it feasible to wage a war against the dollar using cryptocurrency?
The US economy: gargantuan and ferociously increasing debts at all levels, massive deficits, massive and persistent trade deficits... what reason is there for the USD to be valued as highly as it is? None. The USD in current times is valued so highly because of brand recognition and brand loyalty, that's it. The dollar is without a doubt the most overvalued commodity in the world- and the US economy is built around and utterly dependent on the USD having this overvalued status. When we lose it, look for the "American way of life" to disappear in an instant.
The pain of the debts is postponed by monetary policy keeping rates low. The USD is valued not for any sort of superiority over other currencies but for the fact that it is nearly universally recognized as "good enough" and "stable enough".
I was thinking about gold the other day.
What makes it valuable? It's not all that useful, just pretty, malleable and relatively rare.
It's only value lies in people agreeing that it's valuable.
That's also true of diamonds, bonds, and fiat currencies, as well as anything else that isn't simply useful or edible.
It's just a lot more convenient to carry cash than chickens.
I was thinking about gold the other day.
What makes it valuable? It's not all that useful, just pretty, malleable and relatively rare.
It's only value lies in people agreeing that it's valuable.
That's also true of diamonds, bonds, and fiat currencies, as well as anything else that isn't simply useful or edible.
It's just a lot more convenient to carry cash than chickens.
Whatever it is ,5000 years of use says gold is here to stay
If it is garbage, then nearly every country has garbage currency.
Just about every country in the universe is using fiat-currency.
What countries have a constitutional-mandate, requiring tangible-assets (gold, silver, etc) to be on-hand, to back all outstanding debt?????
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