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If you can't use it to keep armed men authorized to use deadly force from putting you in a cage for the rest of your life it will at best be peripheral. That's
by 99_00 4y ago
If you can't use it to keep armed men authorized to use deadly force from putting you in a cage for the rest of your life it will at best be peripheral.
That's why people use the currency of their nation.
They must pay taxes and fees to exist as a part of society. Not doing so means you either fall off the social ladder or are imprisoned and have your life destroyed.
It's one thing that Modern Monetary Theory gets right. The government creates demand for its currency through taxes and fees that must be paid under threat of violence. So you work and earn the currency to pay for your right to exist.
Is that nice? No. But denying that the threat violence keeps this version of society together is denying reality. And trying to replace a system that is willing to use violence to maintain it's existence with dreams just doesn't work.
- junofan 4y agoSo if taxes go up, there will be more demand for a currency? And if taxes go down, there will be less demand for a currency? I’m not sure that’s right.
- 99_00 4y ago>So if taxes go up, there will be more demand for a currency No. Because an increase or decrease in taxes doesn't cause anyone to stop or start using currency, or convert from one currency to another.