Comment by zx8080
1 day ago
> US dollar is backed by the US military.
No, it's not. It's not possible to come to the US soldiers with a bunch of US dollars and some demands and get what's demanded in return for the dollars.
Only trust of the other market participants backs the US dollar.
It's the other way around. If you don't trade in dollars, the military comes and demands that you do.
Is the peso backed by the Mexican government? Because I'm afraid of all these militaries coming and knocking down my door to use their money.