CNBC: Former US Currency Comptroller “The Dollar May Actually Not Be Backed By Anything”

CNBC: Former US Currency Comptroller “The Dollar May Actually Not Be Backed By Anything”

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  1. We know it’s not. Fort Knox is a empty building. The real backing of the US dollar is the petro dollar and the US will go to war with any country that wants to accept any other currency for petroleum. We are the worlds common denominator on petroleum purchase.

  2. It hasn’t been for a loooong time. What they will tell you is that it is backed by faith in America‘s ability to pay back it’s debt which is hilarious since that keeps growing but even more hilarious is how they feel they would pay back their debt in their mind is to simply print the money and pay it back at any time.

    The correct answer to what actually backs the US dollar is its ability to go to war, basically if you do not accept it expect to see some missiles and aircraft carriers coming your way. See Petrodollar.


    What does “being backed by anything” even mean?!

    That is not how currencies work! The value of currencies has NOTHING to do with “being backed” by whatever the fuck they are talking about!

    You want to buy a product or service in dollar, you have to buy dollar first and therefore create demand for the dollar and raise the market price for dollar with that added demand! That is how currencies work!

    Why are people calling themselves experts on CNBC talking bullshit like this?!?!?!

    It is “stores of value” like gold and other commodities, and yes, also Bitcoin, that have such high prices because of make believe! Besides pizzas and Tesla cars there is NOTHING you can buy with Bitcoin as of right now, that does justify the price. With more and more businesses accepting Crypto that MAY change, but we are not there yet.

  4. and further yet “backing” might not be as valuable a thing as once thought. especially considering what bitcoin’s mere existence now makes obvious. that is, that an asset can be traded digitally without any backing or other promises from corruptible and corrupt people whatsoever. bitcoin doesn’t need a seal, or a flag, or any mystical symbolism; likewise bitcoin doesn’t an army to promise to kill as many people as necessary to prop up its value. bitcoin is peace. dollars are violence.

  5. It’s backed by every good and service produced by the United States, every stock traded on US stock exchanges, every cent of corporate and government issued debt securities, every square inch of real estate, and every sack of grain, barley, oats and sorghum, every barrel of oil and every bar of gold and silver traded on US commodities markets.



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