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,,Currency was never meant to be a value store, ever. '' It's not that simple. If people wouldn't use it for store of value, seignorage wouldn't be so profitab
by xiphias2 6y ago
,,Currency was never meant to be a value store, ever. ''
It's not that simple. If people wouldn't use it for store of value, seignorage wouldn't be so profitable for banks.
Gold backing was also very profitable for banks, as they could sell the gold and lie to people about the gold still existing. It wasn't like people wanted it: gold was taken away by force and by shaming people who hoarded it.