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There are also examples of post-fiat currencies. Immediately following the toppling of Saddam Hussein there was still economic activity denominated in the old
by JackFr 13y ago
There are also examples of post-fiat currencies. Immediately following the toppling of Saddam Hussein there was still economic activity denominated in the old Iraqi currency, most probably on the assumption that it would be convertible at some rate with whatever came next.
- saalweachter 13y agoThere's also a certain amount of inertia. If I stop taking your old Iraqi currency, you'll stop taking my old Iraqi currency, so it's worth a lot to me to maintain the fiction, to believe really hard that the old fiat currency is still meaningful.