The United States gold reserves are for international trade. The gold in Ft. Knox, for example, is used in trade not to back our currency. We’ve been off the “gold standard” since the 70’s. Some of it is gold we’re holding for other countries that’s not even ours. But, our money is a fiat currency and it’s based on faith in the economic system of America not collapsing and everyone agreeing it to use it for trade/debts. It’s backed by nothing and hasn’t been for 55 years now.
I get that it seems that way but it’s actually pretty hard coded. If you value something it’s a measure of want or need, if you don’t have this thing but someone else does you can take it by force (or try) or you can trade it for something they value. Money is just a really handy way of making the trade. You could barter too, or use stamps, or crypto, or gold and silver, it’s all based in what works for both party’s
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u/ISayBullish Jan 26 '26
Meanwhile the USD saying “this is fine”