On: MakerDAO’s “DAI” stablecoin is breaking, as predic...

[justincormack]

The USD is not pegged to commodity prices.

[zodiac → justincormack]

You're right - what would you say it is pegged to?

[splintercell → zodiac]

Literally nothing.

[zodiac → splintercell]

Then what does the feds 2% interest rate target? Nothing?

[splintercell → zodiac]

The fear of Inflation. But USD is not pegged to anything.

[zodiac → splintercell]

Inflation measures USD purchasing power- how do you think that's measured?

[splintercell → zodiac]

So your claim is "USD is backed by X", it's just that I can't see the X, so tell me, what is USD backed by, without mounting an assault on the term "backed by". Backing means, some concrete promise or claim. USD has no concrete claim or promise behind it.