What tangible asset is fiat currency backed by?

war

literally backed by:
'you have to pay your taxes to the government in US dollars otherwise you will be imprisoned or killed'
so, people transact in US dollars

in short
backed by FORCE

>What tangible asset is fiat currency backed by?
Nothing, thats why it's called fiat. Fiat means "may it be," which basically tells us that fiat currency is an invention of modern governments.

Wtf you even talking about homie?

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Use it or get the American military

>What tangible asset is fiat currency backed by?

You and I, friend. Our taxes are what services the interest on the fed's debt.

Labor. An asset of real value unlike a worthless metal that natives used to throw in the trash because it was too soft and useless.

american nukes

Mainly government debt and financial claims secured by real assets (real estate). A small part is backed by gold, still.

The cost of your body parts on the black market

White women's pussy

Based

Jews overvaluing debt like a house of cards

Backed by the farts of all the Jews running the FED

The blood sweat and tears of the proletariat

>invention of modern governments
you misspelled private banking cartels

Your children.

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nigger tongue my anus

Oil.

You and your children's work. Also their children.

Pretty much

Nothing, that's what makes it fiat you tard.

You can buy stocks, bonds, gold, etc with it
Doesn't need to be backed by anything as long as you can exchange it for more tangible capital