The Picard Maneuver@lemmy.world to Curated Tumblr@sh.itjust.worksEnglish · 1年前How to fix the economylemmy.worldimagemessage-square168fedilinkarrow-up1492
arrow-up1492imageHow to fix the economylemmy.worldThe Picard Maneuver@lemmy.world to Curated Tumblr@sh.itjust.worksEnglish · 1年前message-square168fedilink
minus-squareAlexstarfire@lemmy.worldlinkfedilinkEnglisharrow-up2·1年前Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
minus-squareearphone843@sh.itjust.workslinkfedilinkEnglisharrow-up5·1年前Gold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
minus-squarekonkilinkfedilinkEnglisharrow-up1·edit-21年前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.
Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
Gold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
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.