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Philisophically or sociologically or ecologically, fiat money may be bad, but economically it's a clear winner.
by srtjstjsj 6y ago
Philisophically or sociologically or ecologically, fiat money may be bad, but economically it's a clear winner.
- swader999 6y agoIt's prone to boom and bust which has been devastating. Hayek describes a type of money that adjusts it's supply to maintain a stable price. Until now this wasn't technically possible. Ampleforth.org is an interesting experiment to introduce a new base reserve with dynamic supply and eventually a stable price. https://m.youtube.com/watch?v=9-uo-KfnkhI https://m.youtube.com/watch?v=9-uo-KfnkhI
- capnorange 6y agoor it's non-vc fork - https://based.money/ https://based.money/!
- XorNot 6y agoEconomies boom and bust. This has nothing to do with fiat currency, and is a heck of lot better then the alternative where shopkeepers and employees are made poorer due to economic prosperity because they don't adjust their prices fast enough.
- beaner 6y agoThe most popular fiat currency, the US dollar, was tied to gold until 1971. It's still not clear that breaking that link was a good move. Also this: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/