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That's not how it works. There's no authority over the production of the shilling - anyone can make them, and they therefore trade at the cost of production. W
by thaumasiotes 3y ago
That's not how it works. There's no authority over the production of the shilling - anyone can make them, and they therefore trade at the cost of production.
Which means that regardless of the number you print on the notes, if buying something took a brick of them at the old denomination, it will take a brick of them at the new one too.
- hinkley 3y agoNot if the new one is guaranteed by a bank.
- SoftTalker 3y agoDepends on how much people trust the bank.
- acchow 3y agoOr how much they fear the bank (bank with an army)