The USD is backed by the full faith and credit of the USA, same with our debt.
If I recall, the US does own a few substantial assets, like Hoover Dam, a whole armed service with property and assets all over the globe, buildings everywhere, land, forests, airports, roads, bridges, The Mustang Ranch, etc.
There is more than enough to back the US debt and currency.
Even if the US runs up huge deficits, you can't discount these hard assets.
If we do run short on assets in the future, we'll just have to invade Canada, or invade Mexico and trade it to Russia for Siberia or something. <G> |
