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some_of_us_are_sane

(1,597 posts)
12. I understand a bit more, but
Wed May 21, 2025, 08:20 PM
May 21

I really don't see the difference between what Senator Schiff is backing, which is a "stablecoin" -(stablecoins are cryptocurrencies that aim to minimize price volatility by linking their value to a stable reserve asset) and the American dollar -(the U.S. dollar is not backed by a commodity, like gold. It has value since the government declares it legal tender but its actual market value is not determined by the government. Instead, it's largely determined by supply and demand, both domestic and international.)

Both are changeable in value, NEITHER are backed by actual gold.

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