4 ms·
Money is a useful tool for complex societies. It means I don't have to trade a chicken for a bag of potatoes. However, this tool has also been hijacked by those
by neuralkoi 2y ago
Money is a useful tool for complex societies. It means I don't have to trade a chicken for a bag of potatoes. However, this tool has also been hijacked by those in power to maintain control.
In our current system, a box full of rocks painted to look like nickel can have the same monetary value as the actual nickel. See:
JPMorgan Had Some Fake Nickel
https://www.bloomberg.com/opinion/articles/2023-03-21/jpmorgan-had-some-fake-nickel?cmpid=BBD021325_MONEYSTUFF&utm_medium=email&utm_source=newsletter&utm_term=250213&utm_campaign=moneystuff https://www.bloomberg.com/opinion/articles/2023-03-21/jpmorg...
Also the government can just make more money (i.e. to avoid defaulting), devaluing your own money in the process, like some sort of indirect tax.