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His point is that fiat currencies are issued by, and backed by, the state and the that trust is, ultimately, based on its enforcement capacity - the police/cour
by davidwritesbugs 4y ago
His point is that fiat currencies are issued by, and backed by, the state and the that trust is, ultimately, based on its enforcement capacity - the police/courts/US army rather than convertibility with gold or other hard asserts.
- theGnuMe 4y agoI think it’s about peace and trust more than anything. It’s not about war and aggression.