I perceive that you don't agree with my frame, but it's not 'an outdated theory'.
I linked to a book that explains it in great depth, not that I would expect anyone to read it.
_real_ money is backed by _real_ things. What banks create when they make a ledger entry that creates new money isn't "real" money. It's fake money, but because of the fungible nature of money, their fake money gets mixed in with real money, growing the purchasing power of those who get it at the expense of reduced purchasing power of everyone else who has dollars.
THAT ALL SAID!
I appreciate the engagement, and my god if you wanna hash this out more I'd love a zoom call to see where we'd find "a failure to disagree". I suspect we'd agree on most things.
BTW, love your username. I rode a moped from Denver to BC to Vancouver to Seattle and back, a few weeks ago, and of the 20+ days I was gone, spent 12 of them hammock camping.
I love hammocks. They're perfect, in many situations.
I'm not sure there is a more real thing than another person's labor, which is what people offer when they sign a debt contract. The way fiat works is effectively a time banking network with abstract currency units.
I linked to a book that explains it in great depth, not that I would expect anyone to read it.
_real_ money is backed by _real_ things. What banks create when they make a ledger entry that creates new money isn't "real" money. It's fake money, but because of the fungible nature of money, their fake money gets mixed in with real money, growing the purchasing power of those who get it at the expense of reduced purchasing power of everyone else who has dollars.
THAT ALL SAID!
I appreciate the engagement, and my god if you wanna hash this out more I'd love a zoom call to see where we'd find "a failure to disagree". I suspect we'd agree on most things.
BTW, love your username. I rode a moped from Denver to BC to Vancouver to Seattle and back, a few weeks ago, and of the 20+ days I was gone, spent 12 of them hammock camping.
I love hammocks. They're perfect, in many situations.