The Picard Maneuver@lemmy.world to Curated Tumblr@sh.itjust.worksEnglish · 2 mesi faHow to fix the economylemmy.worldimagemessage-square131fedilinkarrow-up1466
arrow-up1466imageHow to fix the economylemmy.worldThe Picard Maneuver@lemmy.world to Curated Tumblr@sh.itjust.worksEnglish · 2 mesi famessage-square131fedilink
minus-squareAlexstarfire@lemmy.worldlinkfedilinkEnglisharrow-up2·2 mesi faYes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
minus-squareearphone843@sh.itjust.workslinkfedilinkEnglisharrow-up4·2 mesi faGold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
minus-squarekonki@lemmy.onelinkfedilinkEnglisharrow-up1·edit-22 mesi faFiat currencies are actually backed by the tax liabilities denominated in them. If you are liable for one of my business cards, else a guy with a gun shows up at your door, you suddenly have demand for my business cards.
Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
Gold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
Fiat currencies are actually backed by the tax liabilities denominated in them. If you are liable for one of my business cards, else a guy with a gun shows up at your door, you suddenly have demand for my business cards.