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His goal of spontaneous order depends on several things. Apparently, the most difficult for Americans are: 1. Initially, the currency is promised to be convert
by ttyprintk 2y ago
His goal of spontaneous order depends on several things. Apparently, the most difficult for Americans are:
1. Initially, the currency is promised to be convertible to a basket of goods and services. That promise begins the reputation of the issuing institution.
2. Fraud would still be illegal, reputation-damaging, and not “it’s called being smart”
- npoc 2y agoIt's not a goal just a concept. Point 1 isn't true. There doesn't need to be a issuing institution. Just look at gold. As for 2., yes, it seems that the promises from centralised institutions you mention always end up being fraudulent