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He's saying the dollar is backed by public acceptance which is still in place. I would add that it's also backed by government violence if you don't pay your tax obligations with dollars. It's not a coincidence that the fed was passed at about the same time as the income tax. It's also not a coincidence that they've pretty much abandoned the use of amendments to the constitution since those passed.
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[–] CowWithBeef 0 points 1 point 1 point (+1|-0) ago
He's saying the dollar is backed by public acceptance which is still in place. I would add that it's also backed by government violence if you don't pay your tax obligations with dollars. It's not a coincidence that the fed was passed at about the same time as the income tax. It's also not a coincidence that they've pretty much abandoned the use of amendments to the constitution since those passed.