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  • According to the US Government Accountability Office, “the federal government borrows money straight from the public. The government issues securities like bills, notes, and bonds through the U.S. Treasury… Individual and institutional investors can back the government by investing in these types of securities and many choose to do so.”

    USD is backed by your faith in the US government to exist and not prints giant amounts of money. Taxes are another way of raising money, it helps to stave off inflation rising since the gov considers it better to have small amounts of inflation then deflation.

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  • Actually the Chinese high speed rail is littered with issues. Safety is obviously an issue, most stories that escape the bubble and make it west are about steel quality in the tracks causing cracking and closures.

    The other issue is economics. Sure, China has a lot of high speed rail, but a lot of it goes nowhere important, connecting small cities where a normal train line would have been more economical and practical for the sole reason of claiming more high speed rail than any ither country. This has lead to a huge expansion in the governments “hidden debt” to over 1 trillion usd from the rail line operator alone. This is only for laying the lines themselves does not even account for new trains or maitenance or stations and services.

    Also, if the recognized speed of high speed rail is 125mph like wikipedia says, America has a decent amount, it just so happens large cities are spread apart across the continent and flying is more economical than high speed rail.