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Raw fiat is NOT a new experiment, the Yuan dynasty in China printed paper money in the 13th century, not backed by any precious metal or commodity. They printed
by lubonay 5y ago
Raw fiat is NOT a new experiment, the Yuan dynasty in China printed paper money in the 13th century, not backed by any precious metal or commodity. They printed too much and had inflation problems, so that's not a new problem either.
- anonporridge 5y agoAh, you are right. I knew that, but had forgotten. Thanks for the correction!