17 Dec
2003
17 Dec
'03
11:17 p.m.
anonymous@extropia.wimsey.com says:
Most major economies are using fiat money today, so it is clear that fiat money will work.
Fiat money works because guns are used to force people to accept it. You have to pay your taxes in it, the laws are written so that all commercial paper requires that you use it, the government makes all its purchases in it, etc. The result of this is that it is accepted. It is substantially harder for people to accept fiat money that doesn't have guns barrels backing it up. Perry