Bitcoin (BTCUSD)

[shajandr]

The 'full faith and credit' includes the MASSIVE real estate owned by the Federal government, including major forests and areas with immense subterranean minerals, coal, petroleum, and nat gas. It also includes military bases and hardware. Gold in Fort Knox, Huge plutonium stockpiles and nuclear arsenal. Trillions of Dollars in military hardware - just aircraft alone - and 11 carriers. Foreign embassies, territories like Guam, Marshall Islands, American Samoa, Puerto Rico, etc. - all are assets that can be used to offset the liabilities. Hell, China would gladly pay a trillion US Dollars just to buy Guam alone.

All that stuff, and the ability to tax people in the USA or with USA citizenship even if they are outside the USA, are real assets that contribute to the 'full faith and value'.

Bitcoin is backed by NO assets at all. None.