Before the gold standard was dropped, it was relatively easy to understand where money got its value.
Money represented a certain proportion of gold in a country’s National Reserve. The money could be cashed in for gold, a very physical and tangible item. That all makes sense.
But we don’t use that anymore. So isn’t the money just paper? I don’t see how this system makes sense anymore.
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The US dollar has value because the us has never ever ever missed a payment on its debt the US basically has a perfect credit rating so we (for now) can print money with that credit that’s forever good. Unless we star missing payments which would fuck the economy
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