Episode 96: What Is Money, Anyway?
Words & Numbers
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The US Dollar Is Backed by Pain
I've been toying with the thought that maybe, at least to an extent, the US dollar is backed by pain. The federal government demands that each of us pay a certain amount of taxes and those taxes must be paid in US dollars. If you don't pay them, the government will come and do things to you. It'll take your stuff. And if you try and resist, it'll throw you in jail. But let's get back to money and what it is and what it means. Because we have a $21 trillion debt, which indicates there's some level of confusion here.
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