Hacker News new | ask | show | jobs
by 35fbe7d3d5b9 1868 days ago
> Money works purely on belief. If we all suddenly disbelieved in the dollar, the value would be zero.

Is this true? Yes.

Are you wildly underselling what "disbelieving in the dollar" means in practice? Also yes.

I believe in the dollar because the United States has the worlds largest nuclear arsenal, spends nearly a trillion dollars on its military every year – and that's only what it puts on the books – and has been proven to have an itchy fucking trigger finger.

That trust isn't going anywhere without massive global conflict.