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Huh, I'd never thought of fiat currencies that way until now. One might say they're backed by your individual liberty (i.e. not paying your taxes with legal ten
by spangry 10y ago
Huh, I'd never thought of fiat currencies that way until now. One might say they're backed by your individual liberty (i.e. not paying your taxes with legal tender gets you thrown in jail).
- s_q_b 10y agoYou've reframed the concept in a very interesting way. Another permutation: It's almost as if a government holds your liberty as collateral to ensure use of their currency domestically.