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Fiat currency is just a paper/electronic record of a promise. Because money is a promise, not a commodity. There will always be promises, because that is how h
by neilwilson 9y ago
Fiat currency is just a paper/electronic record of a promise. Because money is a promise, not a commodity.
There will always be promises, because that is how humans trade: "Here's a pig, pay me back a pig's worth sometime". There you go - you just created money.