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It's a really interesting piece because it shows how 'popular confidence' is a different thing than 'investor confidence'. That said, it would seem that this w
by jomamaxx 10y ago
It's a really interesting piece because it shows how 'popular confidence' is a different thing than 'investor confidence'.
That said, it would seem that this was not a 'fake currency' -rather the introduction of a more sound system that people actually did trust.
In a way, simply implementing good financial policy.
But the details of it are pretty neat :)
- SubiculumCode 10y agoI think public confidence is not as important as the denomination inwhich taxes must be payed...and inflation was happening because they had limited domestic production capacity and could not afford to buy foreign goods.