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NO currency has survived a millennia. Almost all currencies backed only by their governments, and not by physical gold, are at most a century old.
by shabda 7y ago
NO currency has survived a millennia.
Almost all currencies backed only by their governments, and not by physical gold, are at most a century old.
- pmiller2 7y agoNot true. The pound sterling has been in continuous use since around 800 CE.
- thechao 7y agoThat's a ship-of-Theseus fallacy. The pound sterling of 2019 is more related to the American dollar of 2019 than it is to the pound sterling of even WWII, nonetheless 800CE.
- rpz 7y agoAnd additionally the American dollar is not the same as it was pre bretton woods, or pre federal reserve, etc.
- zajd 7y agoThe ship of Theseus isn't a fallacy, it's a thought experiment.
- pmiller2 7y agoNot really. It’s just a matter of changing times and prices. Pounds and pennies have been a thing for 1200 years. What they buy has changed dramatically.
- Rmilb 7y agoAnd lost 99% of its value!
- deleted 7y ago[deleted]