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> All the money which exists in the system was created out of nothing People keep saying this. But hasn't it almost always been true, almost everywhere? Apart
by tasuki 4y ago
> All the money which exists in the system was created out of nothing
People keep saying this. But hasn't it almost always been true, almost everywhere? Apart from some rare exceptions, such as people using livestock as money.
- MomoXenosaga 4y agoA bunch of smart Dutch people got the idea of asking people for money which they would pay back with future profits. This managed to fund a war with the Spanish empire that owned almost all silver mines. Paper won against hard currency. And the rest is history.