Checks and credit The US hasn’t been backed by hard currency since the mid-60s. Once we moved off the gold standard, it all became Fiat based on exchange rates
A paper check is not cash. A credit score is not cash. Physical backed up currency in your hand is cash. And I don’t think you can get cash anymore. Only Fiat
I seem to have gotten the beginning of the process and the final cutoff date. Confused. That would be the cutoff date, not when they started to restrict the ability to convert
Checks and credit The US hasn’t been backed by hard currency since the mid-60s. Once we moved off the gold standard, it all became Fiat based on exchange rates
So you don’t actually understand what the phrase “cash is king” really means.
A paper check is not cash. A credit score is not cash. Physical backed up currency in your hand is cash. And I don’t think you can get cash anymore. Only Fiat
And guess what cash doesn’t need to actually work, unlike credit, checks and crypto.
An economy?
All four of them require that.
If by mid-60s you mean 1971…?
I seem to have gotten the beginning of the process and the final cutoff date. Confused. That would be the cutoff date, not when they started to restrict the ability to convert