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[–] Dougal_McHaggis 0 points 21 points (+21|-0) ago 

It's backed by the US military.


[–] Locked_Account 0 points 9 points (+9|-0) ago  (edited ago)

The Hot-Lead Standard.

It is the evolved form of the Gold Standard.


[–] go1dfish 0 points 5 points (+5|-0) ago  (edited ago)

How so?

Say I’m a foreigner holding some USD cash, what is it about the US’s military overspending that makes those pieces of paper have any value?


[–] AinzOown 0 points 3 points (+3|-0) ago 

I mean I've never not been able to buy shit with USD. It has some inflation but that's usually pretty well known, as long as its long term value.


[–] wesofx 0 points 3 points (+3|-0) ago 

Because America sells oil for USD.


[–] Thisismyvoatusername 0 points 2 points (+2|-0) ago 

Because at the end of the day, it is military might (whether in the guise of policing or warmaking) that backs up the threat of force to tax which gives it value. The value to foreigners is an indirect benefit because the currency has value in the US and international trade exists.


[–] Dougal_McHaggis 0 points 1 points (+1|-0) ago  (edited ago)

Same reason gold had value. Because some king said it did and could kill anyone who disagreed. Violence is the base currency of life. What is currency? It's simply having the agency to manipulate your enviroment through leverage. Violence or other motivation such as the trade of goods or services. But these trades are conveniently stored as "violence tokens" i.e. dollars.

We can fuck anyone that doesnt agree dollars have value. Overtly with bombs or covertly with cia psyops.

Violence is America's #1 export. It subsidizes the western world's lifestyle, you should be thankful.