What is the US dollar backed by?

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What is the US dollar backed by?

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Anonymous 0 Comments

Like all fiat currencies, it’s backed by the government, but USD also has an added stabilizing factor in the form of oil trade, nearly all of it is traded in dollars, providing stability well beyond what US economy alone could. The meme about about US going to war to extract oil isn’t accurate, but it does contain a kernel of truth as US is very aggressive about maintaining the petrodollar.

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