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> since money has no actual value Ah, the intrinsic value debate (which your entire argument hinges on) never gets old. Setting that debate aside, money has m
by zeroxfe 6y ago
> since money has no actual value
Ah, the intrinsic value debate (which your entire argument hinges on) never gets old.
Setting that debate aside, money has market value -- it's not backed by gold, but it's backed by the power of the government, by the trust of the citizens, and by very strong social expectations. A storekeeper is more likely to accept your money than your gold.
- 35fbe7d3d5b9 6y agoThis holds true not just of a storekeeper in the US, but in many other countries as well. The US invested a great deal of both soft & hard power ensuring this is the state of the world.