Post
Topic
Board Economics
Re: USD is backed by the fact that IRS only accepts it for taxes...
by
franky1
on 01/12/2012, 00:28:22 UTC
USD is not backed by taxation laws..

its backed by minimum wage laws. employee's with employee contracts need to be paid in native FIAT .. so the dollar is backed by labour time.

secondly there are many cases where the IRS has accepted gold and silver as forms of payment. google has the answer.