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75 sats \ 1 reply \ @CliffBadger 16h \ parent \ on: MONEY CLASS OF THE DAY: Money Illusion and Unit Bias, Bitcoiner style econ
I count scenario 2 as a failure because it's using gold/bitcoin/stocks to compensate for a role of money that fiat can't play.
Fiat works as money in the sense that it's a liquid asset that the general public accepts for payment, and it works very well for particular aims and strategies. But it's not doing what money is supposed to do in the ideal capitalist sense. The depreciation in purchasing power is essentially a manufactured obstacle to free trade.
That's sort of your value judgement.
You look up the definition of money, what you outlined as fiat fits that.
So, I disagree with your method/component but agree with your conclusion that it's a manufactured obstacle
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