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Boy is that not the story here. It's what happens after WWII. There is pretty much no measure of currency that will change this basic story, which has two parts
by ivankirigin 17y ago
Boy is that not the story here. It's what happens after WWII. There is pretty much no measure of currency that will change this basic story, which has two parts: USD as a reserve currency post Bretton Woods, and abandoning the gold standard giving notes no intrinsic value.
- barrkel 17y agoGold has no intrinsic value either; its value is barter value, what other people believe it's worth. Fiat money is no different; its value is barter value, what other people think it's worth, which includes how much they trust the issuer not to debase it.