475
How to fix the economy (lemmy.world)
submitted 2 years ago by The_Picard_Maneuver@lemmy.world to c/curatedtumblr@sh.itjust.works
161 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[-] Alexstarfire@lemmy.world 1 points 2 years ago

Yes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.

[-] earphone843@sh.itjust.works 5 points 2 years ago

Gold as a currency only has as much value as people assign to it. It's really no different than a fiat currency.

[-] konki@lemmy.one -1 points 2 years ago* (last edited 2 years ago)

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.

this post was submitted on 08 Feb 2025
475 points (96.7% liked)

Curated Tumblr

7494 readers
5 users here now

For preserving the least toxic and most culturally relevant Tumblr heritage posts.

Here are some OCR tools to assist you in transcribing posts:

Don't be mean. I promise to do my best to judge that fairly.

founded 3 years ago
MODERATORS
Apytele@sh.itjust.works
Csynthare@dataterm.digital
ethaver@kbin.earth