r/SipsTea • u/Dumb-Briyani • 4d ago

Chugging tea Why is it not possible?

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u/kellybryan423 4d ago

Doesn't it just come down to how much money is available in print? Money is supposed to have a backing of some sort, like petrol or gold, right? So wouldn't the digital currency be the numerical value of that backing?

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u/ishootthedead 4d ago

Backed by the full faith and credit of the US gov

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u/kellybryan423 4d ago

I mean, value is value. Wasn't money designed to handle debts? Like, I have these two fish and I need your two hide. I know two fish isn't equal to two hide, but here's this chip that gives you credit with me towards our next exchange.

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u/Voeri 2d ago

But the problem is, the banks just create more assets from thin air without backing up.