People say the U.S. Dollar isn’t backed by anything. Or they say it’s backed by oil.

Neither are true. At its base, the U.S. Dollar is backed by violence.

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Preach brah!

One of my first bitcoin podcast episodes was Guy Swann reading a piece by Lyn Alden. In explaining POW vs POS, she also explained the backing of fiat: proof of force. That was an eye-opener for me.

Backed by energy, backed by wealth, or "use this or else."