3 ms·
Doing this in an environment where nobody is using dollars will lead to guillotines. The dollar has to be useful for exchange first, and then they can demand ta
by immibis 1y ago
Doing this in an environment where nobody is using dollars will lead to guillotines. The dollar has to be useful for exchange first, and then they can demand tax to be paid in it.
- imtringued 1y agoUhm no? This is illogical. You just declared money worthless. Nobody is gonna bring out the guillotines if the government demands worthless paper. They'll happily give the worthless paper to the government.
- immibis 1y agoHow will they acquire the worthless paper?
- alex43578 1y agoSo this thought experiment isn't just that "everyone decides dollars are worthless" but also that the state is dissolved, along with all the property rights and the govt's monopoly on violence? That's more like saying "Dollars are worthless in a scenario like Fallout or The Road", rather than making any relevant point about government efforts to maintain fiat currency. In the original scenario of "people decide dollars are worthless... nothing the government can do", my point was that the government has a lot of levers to pull to backstop value, albeit at a far lower level than today's dollar.