The Crypto Winter

[jamesd at echeque.com]

    --
James A. Donald:
> > > > It took governments a generation and the vigorous and
> > > > frequent application of bayonets and batons to render their
> > > > money independent of precious metals.

Anonymous:
> >> but why did governments engage in the vigorous and frequent
> >> application of bayonets and batons to render their money
> >> independent of precious metals?

James A. Donald:
> > Because they could.

Anonymous:
> This goes beyond gratuitous demonstration of power and ability,
> there is an economic reason behind it all.
> What is / their / economic reason?

It is more lucrative to issue pure fiat money, than to issue money backed by gold.


    --digsig
         James A. Donald
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     4QHYJ0Jb9HD8hvRd9MHwufYOCn3mtcwAnq2A83TJR