Oh, my FRiend, if you believe that the change in housing prices was because of something O said or did, you are going to be sadly shaken when another “crypto currency” adjustment happens. Who will you blame then? The bitcoin has already gone from, what $ 9 to $ 1250 and back to $ 900? You go ahead and ride the fantasy train...we’ll watch.
housing prices dropped due to numerous reasons... cutting the dollar was not one of them
my point was a thing of value whose value was controlled by the whims of someone else for political reasons and has no connection to market forces.
and yes, those ‘dollars’ in your pocket is just paper with magic scribbles on it. it has no real value as it can be, and is, diluted regularly. this is the complete opposite of gold. gold doesn’t have value because people use it for applications and jewelry... it has value because its a limited resource and cannot be easily diluted.
bitcoins have value for all the same reasons gold does (with the added benefit of being essentially weightless)