Ok. We will have to disagree. Thanks.
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Can you factually support your view that UoA precedes SoV or will you only point me to Central Bank reports? Btw, all your linked paper said was “Some economists think UoA is the most important function.” It didn’t say much about origins and genesis Trying to analyze myself.
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Replying to @MustStopMurad @zaoyang
Yes,sure,I just gave you the most recent-Carney's speech was today('The hierarchy points to the reality that money is a social convention').As I said,my sources have little to do with economics,but are in anthropology/sosical studies.See 'discussion' above, David Graeber's work.
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How can you put trust in Carney, who, on top of taxes, inflates your currency 2-4% per year via money printing, thereby “stealing” it from you?
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Why do you think the USD has lost 98% of it’s value since 1918?
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Replying to @MustStopMurad @zaoyang
Value against what? Our incomes have gone up massively since then.
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Value against Gold. Wages have NOT gone up as fast as fiat has depreciated.
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Replying to @an10nev @MustStopMurad
Doesn’t this say store of value -> medium of exchange and then if multiple transactions unit of accounts? From the speech you mentioned.pic.twitter.com/TEjQOeAODP
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@an10nev the paper YOU LINKED says for it to be a Unit of Account, it has to first be used as Medium of Exchange......
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