Does the US keep trillions in cash in a bank?
In: Economics
On a digital a/o physical ledger somewhere. Money has no value if it’s not tied to treasuries and deposits. It’s just a thread and cotton sheet with good art-design.
Paper money and digital currency are essentially physical proof of the “riches” of the person or entity that gave it away. It’s like a diploma that says you graduated from an 8-year Master’s degree on Physics. The diploma itself is useless without the education that you went through to get an equivalent/proof of completion.
Hopefully it makes a little bit more sense.
Latest Answers