Subnostr

If you refuse to see the difference between allowing a market to exist and a guarantee that a bill can and will be exchanged for a fixed amount that does not change during its lifetime, I cannot help you.

a source familiar with the matter 2y ago

There's a difference, as I have twice acknowledged.

But US mint buying back "dollars" is not merely "allowing a market to exist".

The fact that someone somewhere wants to give up gold for "dollars" is not backing or relevant. The fact that the issuing government of those "dollars" will make that trade is relevant.

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Discussion

Bill Cypher 2y ago

Everyone, except the people who stand to profit from printing USD and you apparently, agrees that to be backed means a fixed exchange rate and that every dollar could be exchanged without running out of gold or changing the exchange rate. That is not the current state.