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You have to pick something to have US dollar be backed by, what do you pick? (lemmy.world)

submitted 9 months ago by [email protected] to c/[email protected]

49 comments fedilink hide all child comments

My best (stupid) guess is weapons. US gov has a ton of weapons. Already sells tons of weapons. Now the prices will always remain stable. Other countries would love to know that 30 million usd would always be able to buy an f15. Other countries declaring war will increase the value of the USD, as buying weapons from us government will decrease amount of money in circulation.

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[–] [email protected] 2 points 9 months ago (1 children)

Other countries declaring war will increase the value of the USD, as buying weapons from us government will decrease amount of money in circulation.

I'm not sure if I'm misunderstanding this, but wouldn't that decrease the value of the dollar?

If the US Gov owns less weapons (because they've been sold) but the populace has the same number of dollars, then the value of those dollars must be decreased because there are less weapons backing it.

[–] [email protected] 0 points 9 months ago

Well to get the thing that is backing the dollar, they would have to turn in us dollars that would be taken out of circulation . So a bunch of countries at the same time would get a bunch of USD and turn them in.