“Unlike private bonds or government bonds, which promise a future payment or stream of payments, or a stock claim, which provides a future stream of dividends, fiat money has no intrinsic value.” -@stlouisfed
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So fiat money is "backed by".... nothing? At least tulips are backed by a visually pleasing flower.
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Replying to @manville1111 @Blockchain_U and
It’s backed by government violence which unfortunately many sheeple ascribe value to.
8:58 PM - 10 Mar 2018
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