4 ms·
Great comment! I'd offer this: > Fiat money is just faith-token money without a tangible base. There is no physical basis for the faith, but a persons interac
by irq-1 7y ago
Great comment! I'd offer this:
> Fiat money is just faith-token money without a tangible base.
There is no physical basis for the faith, but a persons interactions with society is a basis for faith in fiat money. If all our neighbors and family and leaders express faith in fiat money through daily actions, then that's a powerful reason to share the faith. Even more so when you realize that faith is the only thing needed to make the system work.