5 ms·

> What’s “real” money? Money based on value of some kind, as opposed to debt.

• naravara 7y ago
  Who 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 ago
      So 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).