Quote:
Originally Posted by Barry-xlovecam
Where do you live?
The US dollar is backed by trillions in real estate and personal property both government and privately owned -- that is why the USD and the Euro are world recognized reserve currencies.
Sorry you cannot tell the difference between a speculative instrument and hard currency -- but that is your problem.
No sale sukka
|
The fact that the USD has been weakening for decades, combined with a variety of countries that are threatening to abandon the petrodollar should be proof enough that it's not the bees knees. It's not a true scarce resource, as the feds print more and more of it, further devaluing it. What did $5 purchase in the 60's vs what it purchases today? A hell of a lot more.
Distributed ledger technologies that are secure, immutable and decentralized isn't just the way forward for currencies, but for just about every other industry out there.
The only inhibitor to its progress is time. Give it time, the more popular it becomes, the more people will trust it over the antiquated state-controlled fiat funny money.