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Monetary Commentary	by Illiad	2009-08-24 13:35:43
The farther along we go, the more it looks like...	by kelli217	2009-08-24 13:43:04
The thing about trading goods for worthless bits	by hobbs	2009-08-24 13:51:14
Like the power of life and death?	by theymustbidiots	2009-08-24 14:35:39
Fiat money and barter are not the only options (n/t)	by hobbs	2009-08-24 15:08:54
No?	by theymustbidiots	2009-08-24 15:18:59
By having a medium of exchange	by hobbs	2009-08-24 15:49:46
The problem:	by theymustbidiots	2009-08-24 19:07:22
Your money supply is now related to how much of that fungible commodity you can harvest. When the economy or trade grows faster than the supply of said commodity, either the currency deflates or velocity increases, or most likely some combination of both. The problem is that you have both agreed to agree that this commodity is valuable as currency, which is the same reason you accept fiat currency. Governments can say that a currency is worth as much or as little as they like, but the reality is that currency is worth as much or as little as people will trade goods for them. It's all fiat currency in that respect.
[ Reply ]
You seem to think that the word "fiat"	by hobbs	2009-08-24 19:38:24
Which is to say, you're actually	by hobbs	2009-08-24 19:42:47
By fiat:	by theymustbidiots	2009-08-24 20:02:58

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