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What’s “real” money? We going back to trading livestock? You realize even hard specie only has value because of government fiat declaring that it’s appropriate
by naravara 7y ago
What’s “real” money? We going back to trading livestock?
You realize even hard specie only has value because of government fiat declaring that it’s appropriate to use for public debts right?
- Torwald 7y ago> What’s “real” money? Money based on value of some kind, as opposed to debt.
- naravara 7y agoWho decides what "value" is or what things should be values at? The whole point of money is to make unspecified commitments for future production. If you want direct exchange of value then you're bartering. The only reason we ever decided on gold or silver as the store of value was because kings made it so.
- Torwald 7y ago> Who decides what "value" is or what things should be values at? The buyer. By paying the price.
- naravara 7y agoSo we're back to barter again, because you're going to need to negotiate value independently for each and every traded good if you don't have an agreed upon unit of accounting (i.e. defined currency).
- 0x445442 7y agoReal money would be any instrument that's based on work already performed instead of work promised to be performed in the future, i.e. not debt based.
- pjc50 7y agoBut that's not actually what you want for preserving value: you want to know that a unit now buys you a loaf of bread today or next week or in ten or a hundred years time. Currency is useful because you can use it to buy future work.