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American Indians didn't believe in land enclosure and didn't have banks issuing fiat money against land, they also bartered I think rather than issuing paper ag
by branchless 10y ago
American Indians didn't believe in land enclosure and didn't have banks issuing fiat money against land, they also bartered I think rather than issuing paper against future labour.
I think hacker news isn't smart at all about fiat money because it's inextricably bound up with the venture capital world where you agree to hand over your labour for paper.
Fiat money is ex nihilo and therefore creatable in infinite amounts. Many of you won't be old enough to realise the productivity gains computers have brought. It's amazing. Yet here we are all scratching around for enough to cover our basic bills.
It will always be like this when you have land enclosure and tax labour. Create more and you can devote more to land costs. Hurry up, the rentiers are waiting.