Money always seemed fake to me. As a fiat currency, the US dollar is only worth what people decide its worth. So my question is why is everyone so worried about government spending and deficits? The dollar is only backed up by the faith of people, right? And people are only scared of one thing (besides the concept of God), and that is death. And the only thing that can bring death on a huge scale (besides God) is an army of well armed people. So, since the US military is the biggest and baddest on the planet, is that not what is really backing up the US dollar?
In short, is the only reason the US government and people get away with unlimited deficits and borrowing against their real value the fact that they could destroy everyone else with their unmatched military?
In short, is the only reason the US government and people get away with unlimited deficits and borrowing against their real value the fact that they could destroy everyone else with their unmatched military?