I wish there were signs of... Burning cash, coal and silicon to make fictitious digital money.https://twitter.com/katherineykwu/status/1045059356994269184 …
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For millenia prior to 1971, base money was a creature of the market, not a creature of the state.
Fiat has always been issued by governments even if defined by other things. Gold is a physical reality. What is wrong with fictional things becoming believed?
My point is, the “physical reality” part doesn’t matter. Money doesn’t have to be physically tangible. Nor does it have to be backed by the State.
Then you AGREE with me. Fiction is more powerful than reality.
The fact that billions of fiat, coal and silicon are being annihilated at the altar of a fiction upon a fiction is absolutely an example of the annihilation of the Fiat System itself.
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