• @[email protected]
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    11 month ago

    Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.

    • @[email protected]
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      51 month ago

      Gold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.

    • @[email protected]
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      1 month ago

      Fiat currencies are actually backed by the tax liabilities denominated in them. If you are liable for one of my business cards, else a guy with a gun shows up at your door, you suddenly have demand for my business cards.