brunswick on nostr

Maybe the main feature of Fiat is not that governments can create it, but that it can be created out of nothing by anyone with a promise and an enforceable agreement.

Hope Rising · 1w

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Anders · 1w

Yes, I think you are right. It's the loan taker, a NPC who wants to buy a house. He has some cash, but the rest, as you say, is his promise to the bank. That's the creation.

FarwestOutlaw · 1w

The definition of inflation is not the price of goods going up, it's rather the creation of new money out of thin air