3 ms·

Then the US dollar isn't a currency either..?

• mojuba 5y ago
  I think it is a currency as long as there's single authority that regulates the amount of dollars in circulation.
  • thatswrong0 5y ago
    Maybe this is completely off base but my line of thinking was based around fractional reserve banking: let's say I have 10 dollars and I put them in the bank. Then let's say the bank lends out 9 out of 10 of the dollars to someone else for a mortgage. The net wealth is the same ($10), but there are now $19 in circulation.
    • mojuba 5y ago
      But that's just the bank lending your money on your behalf (though without you knowing or approving) - I don't see a problem with that.