"Go on Kruggy, clown it up." "I can do that?" "Sure, go on." "Governments have occasionally abused the privilege of creating fiat money ..."https://www.nytimes.com/2018/07/31/opinion/transaction-costs-and-tethers-why-im-a-crypto-skeptic.html …
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... "If you like, fiat currencies have underlying value because men with guns say they do." -- Krugman's in your face fascism is weirdly cute.
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Replying to @Outsideness
I thought this fact was generally well-known and understood, at least among people who think about currencies.
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Replying to @EvolutionistXX
It only holds for fiat.
6:07 PM - 12 Aug 2018
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