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What is the dollar backed by?

Loans

To people

For houses and cars and businesses and government spending

New dollars created and backed by these obligations to pay

You and I are the reserve asset that underpins the system

The dollar is backed by you and me promising to work and pay

Literal slave money

The Slavery Standard

It’s backed by pure violent energy. Men with guns & the ability to wipe you off the planet at any time for any reason.

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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.