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Why can't the government buy its own debts and cancel them? (beehaw.org)

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

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Or does the government already do this? If so, can anyone explain like I'm five?

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[–] [email protected] 0 points 9 months ago* (last edited 9 months ago)

Gold value was also enforced by armies and taxes. It has uses nowadays that it did not use to have. Used to be gold was only useful as a decoration or as a coating that wouldn’t tarnish. The actual value was that you had to pay taxes in it.

Crypto has no value, less value than fiat even, because I can’t buy groceries with it, nor can I pay taxes with it.

Also, you can’t fractional reserve crypto unless you’re using a second crypto currency backed by a first.