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by fullstop
399 days ago
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I hear what you are saying and you're putting an awful lot of trust in that centralized authority. We used to back our money with precious metals, but no longer do so. The dollar is now backed by aircraft carriers, jets, and military might. |
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No, I'm putting my trust in the rule of law.
> The dollar is now backed by aircraft carriers, jets, and military might.
It is mainly backed by trust in government monetary policy. Otherwise, what is the GBP backed by? The Royal Navy isn't what it used to be.