I don’t know if fiat is the problem, to be honest I’m not sure exactly what that means. Is it just government issued money? If you imagine it, we want some form of money. It’s a great tool and much easier to carry around than heavy rocks. Having a large entity enforce and guarantee its value is adhered to is also not always a bad thing. The issue is when the value is rigged against the average person, which is where we are. Printing and interest rates robbing the poor at a greater rate than the rich is just wrong. There’s not much else to say about it
Thanks. So yes it could be used as government issued money. I realised I’ve used the word in that way many times but not really known for sure what it means.
That’s one meaning, but not what I’m referencing. I don’t know how to make it plainer.
I apologise but if you’re getting frustrated because you used a word that means something else as well and you showed me that a dictionary agrees, it appears you will need to clarify it with your own words rather than rely on implicit links and assumptions. If you think I don’t understand that money becomes useless if no one believes in it I’m aware of that. Money is made up as much as any other social contract is made up. My point is some social contracts are useful, like money. Money is simply a tool that acts as an intermediary for a social contract. If it wasn’t useful we wouldn’t use it.
The whole system. That is my original comment. It’s really not that difficult to understand.
