3 ms·
Yeah - the 'fiat' in the fiat currency is the trust that the entire population of that country will keep working, paying taxes, and producing wealth - a bit of
by gota 6y ago
Yeah - the 'fiat' in the fiat currency is the trust that the entire population of that country will keep working, paying taxes, and producing wealth - a bit of which they 'owe' me because I hold this piece of paper (or bits in the bank, a trusted institution)