Replies (11)
It’s backed by pure violent energy. Men with guns & the ability to wipe you off the planet at any time for any reason.
Actually, thats what it is secured by, which is terrible but different. What it’s backed by (exchangeable for) is debt obligations.
The gold standard was also enforced by men with guns. But you and I and our mortgages have replaced gold. We are the reserve asset.
True. True.
It’s why Bitcoin is programmed to go up forever. That’s how it’s supposed to be with a true (non slave) reserve asset.
And all this bullshit bids up the price of everything
Yes, loans and taxes. Remember everyone has to pay taxes in $.
Another aspect of slave money.
I thought it was backed by men with guns who are backed by the dollar which is backed by men with guns who are backed by the dollar which is..
It’s secured by those things, but it’s backed by slaves
The assets on the bank’s balance sheet are all loans
When they settle up, they trade loans
Loans are slave titles
They trade slaves when they settle up
Another form of the same thing - people on the hook promised to pay
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