Counterfeiting is fraud, not capitalism. Even a so-called “lender of last resort” cannot exist under capitalism, but only under a system of dirigisme or worse.
USD is backed by petrodollar, which is backed by US Navy and depends on US Armed Forces bombing anyone who refuses to use USD as a reserve and trade ccy.
USA is $39,000,000,000,000+ in debt as-is, if you add SS and Medicare shortfall, federal pensions and guarantees, the total figure baloons to $125,000,000,000,000+
debt: https://www.us-debt-clock.com/
unfunded liabilities: https://www.us-debt-clock.com/unfunded-liabilities
To people who downvote this: can you guys clarify what is the difference between a counterfeiter and US?
At least counterfeiter does not force you to accept his fake bills, while holding you at gunpoint and pointing a missile at your family
Sounds like a more traditional form of IOU to me. Which was a fairly widespread thing if I'm not mistaken?
No need to pretend that one particular group of people are that special.
wagwang•55m ago