In contrast to commodity-based money, such as gold coins or paper bills redeemable for precious metals, fiat money is backed entirely by the full faith and trust in the government that issued it. What happens to the money when nobody trusts the government?

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[–] • 3 pts

This. The USD is backed by threats of violence from the DoD (external) and law enforcement (internal). We are free range prisoners, and people don't realize it.

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