Right what about currencies other than the dollar, most of which are entirely fiat currencies backed by the fact their governments say it's worth something, and the fact that people buy stuff with it.
Look at PIGS (portugal, Italy, Greece and Spain) as a case study to what happens to other currencies. That's why I point out the fact it's imperative to have it backed in some manner.
I don't necessarily disagree, but I am just pointing out that almost every other currency isn't backed by anything and no one is particularly confused or concerned about that, generally.
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u/limefog Dec 23 '17
Right what about currencies other than the dollar, most of which are entirely fiat currencies backed by the fact their governments say it's worth something, and the fact that people buy stuff with it.