Currency is faith. It is faith that the debt will be repaid. Often that faith is backed by a body of government.
That is why Trump fucking with the Fed, the consumer protection board and the federal agencies that bring order to the chaos that is the US monetary system is absolutely insane.
Once that faith is gone, it’s over.
Think about checks. You know those things we barely use anymore. You whip out a piece of paper and write numbers on it and take out a loan form who ever you are built the goods from.
Currency is faith. It is faith that the debt will be repaid. Often that faith is backed by a body of government.
That is why Trump fucking with the Fed, the consumer protection board and the federal agencies that bring order to the chaos that is the US monetary system is absolutely insane.
Once that faith is gone, it’s over.
Think about checks. You know those things we barely use anymore. You whip out a piece of paper and write numbers on it and take out a loan form who ever you are built the goods from.