veni vidi vici
Omne quod audimus est opinio, non res. Omnia videm
Probably The gold standard was never what backed up the dollar. That's a bit of a libertarian fairy tale and I say that as someone who is a little 'L' libertarian.
Oddly enough, what backs up the global currency is the naval power of the issuing government - its the ability to 'project force'. That's been true since the Spanish Armada, through the western Europeans, and now the American Hegemony.
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This is what backs up the dollar.
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