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@rvkennedy @immibis @pluralistic @funcrunch @kcoyle

Some countries have laws that prohibit the use of other national currencies in commerce. But not the US. Americans (like people everywhere else) use the USD because they trust it, not because they are forced to use it.

But yes, people trust the Fed because they trust that the US government will give it the resources it needs to do its job, and will not try to use it to "print money" for its budget.