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> When you can create money backed by nothing Isn't that what money really is about? Debt and money go together. When you take on debt your creditor can decid
by simo7 6y ago
> When you can create money backed by nothing
Isn't that what money really is about?
Debt and money go together. When you take on debt your creditor can decide to sell his credit to somebody else, de facto using your promise to repay your debt as a currency.
Isn't your promise...just a promise? Yet you can buy stuff with it?
- jkhdigital 6y agoFungible debt is a money substitute. The strictest definition of money would require that it has no counterparty.