3 ms·
Debt is backed by something. Currency is debt to its issuer, and it used to be backed by gold. Fiat currency is debt, but it's not backed by anything. Gold and
by Geee 4y ago
Debt is backed by something. Currency is debt to its issuer, and it used to be backed by gold. Fiat currency is debt, but it's not backed by anything.
Gold and bitcoin aren't debt, they're assets. You could issue bank notes backed by gold or bitcoin.
- lottin 4y agoFiat currency is not debt.