right that's called fiat currency.American currency is backed by the faith and trust in the American government to pay its debts. It fails when the American government does. When you're on the gold standard that's also subject to abuse when people horde gold or release large sums of it into the market at one time. The difference there being you have no control over the actions of individuals who are hording gold. We do have a say in government. It's called democracy. That's your safe guard.
How about some context?
No. That's inherent in capitalism itself. Its not called laborism. Its designed to mostly benefit people with capital.
You're just pretending now because you can't actually discuss any working examples of your argument.
Sure. Good argument guy.![]()
commodity backed is better because there is a hard limit to how much elites can abuse government spending.