As my parting word, your ignorance about currency is the main reason why US government and any other governments that embrace fiat money are allowed to use inflation to tax their citizens without ramification. You are a sucker who praises the one who loots your wealth away.
Well, if this is my ignorant that fiat currency need not to peg on anything, and can be adjust willy-nilly by the government or monetary monitoring body, they are more than welcome to take my Master of International Business degree away from me. I mean, it's only fair if they weren't teaching the stuff that we taught weren't up to
Your Standard.
And you are right, nobody have any foreign reserve in their federal bank, nah, that 1.07 trillion US Bond is just a myth, and that 300 billion USD in Chinese Central Bank does not exist, actually, currency does not need to back by any of foreign currency, and if so, US/EU sanction would have no effect on Russian economy, you are right and the entire Western Financial system that we all use is wrong. Does that satisfy your ego?
Meanwhile in Russia.
I am pretty sure these people just have nothing to do then queue in their bank and take out money, and this is the usual queue.
These Russian only queuing up in front of an ATM for fun.
I am pretty sure Russian Currency went from 1 Rouble to 0.012 USD from 21 Feb 2022 to 0.0009 USD on 28 Feb 2022 have nothing to do with Russian sanction.
And if you think USD control a lot in "wealth" let's applies "Your Model" What if US Federal Bank say all $100 note now worth $5. They can do that, because as you said, Fiat Currency have no backing, right, which mean the value is what Federal Bank said it is. How do you think it will affect world trade, which China is a part of, given that USD is at 62 % of world currency.......Dude, you don't need tanks fighter plane and warship, you can just tank Chinese or anyone's economy just by doing that.
And finally please refrain from personal attacks as mod like
@LeGenD et el is having a tough job as it is, you don't need to make it harder. Just express your point is enough, don't need to throw personal insult.
