Re:$1M bounty for details on Tether’s backing
by jfrunyon on Tuesday October 19, 2021 @07:46PM
(#28925159)
Why can't what be true? Do you truly think that Monopoly money is as valuable as real money backed by all the money, power, influence, and force of a major world government?
[ Parent
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Re:$1M bounty for details on Tether’s backing
by perl4ever on Wednesday October 20, 2021 @06:47PM
(#28937822)
>real money backed by all the money, power, influence, and force of a major world government
This meme bugs me though, even if the USD is in fact more secure.
I don't think the US military or having to pay US taxes is a requirement for the dollar to be sound and useful.
It's a cliche that people use cigarettes or whatever in prison, with no army backing it up.
Noncitizens use US dollars outside the US, where they are neither subject to its jurisdiction nor owe taxes.
And I think people use or have used Swiss Francs all over the world, without any particular empire or force projection of that state.
What is necessary is that the money supply is kept under control.