/biz/ - Business & Finance

[Anonymous No.12344127]

The USD is backed by the labour of 300 Million Americans and their payment and usage in the common market on the daily.
Around the world, People use it as a stable mechanism for holding between trades and as a store of value relative to hyperinflation.
The USD, for all it is leeched on by the top still kind of works because of the economic activity it depends on.

Bitcoin and Ethereum provide no added value because nothing is settled in it.
The mining costs means high-productivity countries like the US, Europe, South Korea are unable to mine efficiently.
It will never even be a stable store of value.
It's essentially a wealth grab for China and other countries to able to mine it with cheap electricity and dump on you people.

[Anonymous No.12344128]

>>12344127
you're a beta male

[Anonymous No.12344137]

>>12344127
no no no....read up on the "petrodollar"

people use dollars because oil is exclusively traded in dollars and the us military will invade your country if you try and use any other settlement

[Anonymous No.12344151]

>>12344127
>300 million americans
>labour
lol it's nowhere near that who actually even "labours" (nice u btw, non american detected)

[Anonymous No.12344168]

>>12344127
>The usd is backed by the labour
Stopped reading right there. The usd is backed by nothing. Infinite amounts can be printed. It inflates like a motherfucker no matter who's labour is "backed" by. Aka, it is a ponzi used to fuel the whim of a few whom humans have decided to let rule over for god knows what reason.

[Anonymous No.12344187]

>>12344128
projection?

>>12344137
https://wikileaks.org/clinton-emails/emailid/6528
and why Libya happened
But anyways

[Anonymous No.12344201]

>>12344168
but it works is the point

[Anonymous No.12344338]

>>12344201
only as long as idiots are willing to fight for this country which is to say, not much longer

[Anonymous No.12344618]

>>12344168
The money printed by the FED is backed by the government and the tax system --> owed by the american people.

Its literally backed by the blood and sweat of filthy burgers.

[Anonymous No.12344643]

>>12344618
You mean the government is backed by the federal reserve banking system, right? Which itself is backed by ....??? Wasnt it gold or something? I forgot, it's not like they have to disclose anything.

[Anonymous No.12344649]

>>12344618
It’s paid for by burgers but not backed by them. That would imply they are capable of fulfilling the debt obligation. They aren’t.

[Anonymous No.12344745]

>>12344127
Sounds like you know somethings up with the usd and economy but dont know shit about crypto so you posted this b8 so people will explain shit for you so just buy eth and be done with it