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Governments can (and has!) "created arbitrarily without limit" metal currencies too. Given their monopoly on violence, they can just say "this coin now pays for
by kqr 4y ago
Governments can (and has!) "created arbitrarily without limit" metal currencies too. Given their monopoly on violence, they can just say "this coin now pays for ten pigs, not one, as you thought before". (Of course, they'd also decrease required tax payments correspondingly to maintain stable inflation.)
- srean 4y agoBut haven't such debased currencies fallen out of favor, more often than not, in favor of those currencies that have not been debased, for example, the Florin https://en.wikipedia.org/wiki/Florin https://en.wikipedia.org/wiki/Florin