Re: Spotting fake hundos
Not sure how this turned into an econ debate, but I'll agree that the US currency (any other currency for that matter) is only backed by the FAITH of the people, including people from other countries and nothing else! It is NOT backed by gold or any other 'commodity'. It might be used to acquire a commodity, but if it was truly backed by material goods or 'commodities', then inflation would cease to exist! (Why would the value of money go down if it was backed by commodities?).
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