> largely always just agreed upon make believe The benefits of having a common/standard unit for an economic ledger are enormous, as it greatly reduces trading

> largely always just agreed upon make believe The benefits of having a common/standard unit for an economic ledger are enormous, as it greatly reduces trading friction. That added benefit has real (i.e., not make believe) value, and the more liquid the currency the higher the monetary premium. Even after hyperinflation, if you normalize to the money supply, currencies generally don't lose value without losing liquidity (being less "agreed upon") .. "Inflation is always and everywhere a monetary phenomenon"