The Picard Maneuver to Curated Tumblr@sh.itjust.worksEnglish • 5 months agoHow to fix the economylemmy.worldimagemessage-square162arrow-up1490
arrow-up1490imageHow to fix the economylemmy.worldThe Picard Maneuver to Curated Tumblr@sh.itjust.worksEnglish • 5 months agomessage-square162
minus-square@Alexstarfire@lemmy.worldlinkfedilinkEnglish2•5 months agoYes, but things like gold have actual uses which give them at least some actual value. Fiat currency is backed 100% by belief.
minus-square@earphone843@sh.itjust.workslinkfedilinkEnglish5•5 months agoGold as a currency only has as much value as people assign to it. It’s really no different than a fiat currency.
minus-square@konki@lemmy.onelinkfedilinkEnglish1•edit-25 months agoFiat 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.