Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Mawspam2

(1,015 posts)
5. Not arguing here, but...
Thu Jun 19, 2025, 11:08 AM
Jun 19

A) My USDollar today is worth less than my USDollar of yesterday because of inflation. Sometimes, I can counteract that. For example: I put my dollar in a bank and they pay me interest for the temporary use that dollar to loan it to a third party for a fee.

B) There was a time when USDollars were government-backed by a deposit of gold held in Fort Knox (or elsewhere), not anymore. Today, USDollars are only ink on paper, backed only by the "full faith and credit" clause of the Constitution. USDollars are, in fact, unsecured. The government has the ability to sell bonds (make loans) or raise taxes (itself lowering the value of my dollar), but the USGovernment is under no obligation make me whole if and when the dollar collapses.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»Latest Breaking News»US seizes record $225 mil...»Reply #5