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Actually, all money is backed by the available goods and services in an economy. It is a plate that spins itself.
by hkt 6y ago
Actually, all money is backed by the available goods and services in an economy. It is a plate that spins itself.
- lotsofpulp 6y agoNo one is forced to give up their goods and services for any specific money. Money is “backed” by the trust that someone else will be willing to accept it at a later date for goods and services.
- hyko 6y agoWell, you’re forced to pay your taxes in specific money, so that’s one thing.