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Try saving the local currency in a country with a government that is actively debasing its currency to fund the ventures of its aristocracy, and you will unders
by mistercheph 2y ago
Try saving the local currency in a country with a government that is actively debasing its currency to fund the ventures of its aristocracy, and you will understand that having access to a secure, transferable store of the value of your work is not universal, but a privilege assured by the power of trillions of dollars of fighter jets.
- beaglesss 2y agoGold and many other useful commodities are valuable with or without fighter jets backing them.
- mistercheph 2y agoYes, but not transferable.
- beaglesss 2y agoCommodity money has been a thing in many times in history.
- mistercheph 2y agoWhy isn't it today?
- beaglesss 2y agoIn fact it is in many rural lawless areas where there is effectively no state, like gold mining regions of Brazil/Guyana/west africa Fiat dominates in strong nation states because in part everyone needs it for taxes.