> US dollar is backed by the US military.

No, it's not. It's not possible to come to the US soldiers with a bunch of US dollars and some demands and get what's demanded in return for the dollars.

Only trust of the other market participants backs the US dollar.

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direwolf20 4 hours ago | parent [-]

It's the other way around. If you don't trade in dollars, the military comes and demands that you do.

	▲	RealityVoid 2 hours ago \| parent [-]
		Is the peso backed by the Mexican government? Because I'm afraid of all these militaries coming and knocking down my door to use their money.