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That's the point though: in some sense it's a circular house of cards. I linked this Edward Harrison piece higher up. Read the first paragraph and think about i
by ellius 11y ago
That's the point though: in some sense it's a circular house of cards. I linked this Edward Harrison piece higher up. Read the first paragraph and think about it for a minute. This is all a dollar really is, and its inherent, fundamental value is nothing other than that it allows you to pay taxes:
https://www.creditwritedowns.com/2011/10/currency-revulsion-2.html https://www.creditwritedowns.com/2011/10/currency-revulsion-...
- sorokod 11y agoA central point here is the statement that money has no intrinsic value, saying "Money is an IOU" may be understood to mean that, but in a very awkward way, it seem to suggest that something deeper is going on here.