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>I'm not aware of any non-government-backed fiat currency which has gained widespread use in the history of humanity. Before the 1900s the vast majority of cur
by logicchains 5y ago
>I'm not aware of any non-government-backed fiat currency which has gained widespread use in the history of humanity.
Before the 1900s the vast majority of currencies were valued based on their precious metal content (gold or silver), not government fiat.
- jfrunyon 5y ago> me: And in fact all of the fiat currencies I know of originated as representative money. > you: Before the 1900s the vast majority of currencies were valued based on their precious metal content (gold or silver), not government fiat. ORLY? I didn't know that. Oh wait I literally said it in the comment you replied to.