what about what the 100 dollar bills represent to the person holding onto the money?

What if that person, like you, thinks "I can use this to pay taxes"

They certainly could

then is it equivalent to the currency?

since that's apparantly all you care about

I swear americans have this odd obsession with taxes no other nation has.

Since millions of American individuals and corporations owe taxes is US dollars, the dollar has a consistent demand floor

The dependability of the fed collecting the taxes every year is what backs it up. What do YOU think backs it up? @✨Skolander✨

It's not just America, that's most fiat based countries

No, not a single fiat based country functions like that.

Obviously it's working and we don't have vaults of gold for all our dollars anymore...

All of them, except for the ones in trade blocks where there is an extra step, like the Eurozone

The US is big and powerful enough that the "promise" is enough

If governments collapsed entirely, falling into total anarchy, people could still use the same damn physical paper as a trade medium, ie. a currency

the only reason we use fiat currency is because it is less volatile

that's about it

under anarchy it would return to being as volatile as any other currency

They could try and use it, but I would expect the dollar to have some serious problems if the US fedgov fell

irrelevant

they could use it just the same

whatever value it has, is because people believe it has value

The bond holders wouldn't get their coupons or redemption, so that would b ea major problem

why wouldn't they?

no more fedgov

who is going to pay the bond coupons?

idk, that's a logistics problem

I wonder what point you're trying to make @✨Skolander✨?

@Dr.Cosby that none of you fundamentally understand what currency is.

Aha I see

you honestly think it has shit to do with taxes

I always wonder if they really believe they are so smart when they make statements like 'Americans are dumb' et

it is a moronic thing to say

any economist would laugh you out of the room if you attempted to make that argument.

Americans are so dumb, we don't even know what currency or taxes are, darn it

We did elect Trump though, so I can't complain when people make fun of us

literally any physical object can be used as a currency.

Do you agree or disagree with that statement?

You can try, no gurantee anybody would accept it

The funny thing is it's usually people who like Trump, who like to call Americans stupid...m

I wonder why

^no doubt