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In the discussion thread: why fiat currencies are stable [View all]

Response to paulkienitz (Original post)

Wed Jan 19, 2022, 05:44 PM

5. They are sort of stable because the government requires people to use them to pay taxes

 

And the government can use them to buy goods and services. And the government can require debtors to accept them in payment of debts by creditors.

The government can do this because it has political power.

And "Political power grows out of the barrel of a gun."

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paulkienitz Jan 2022 OP
fescuerescue Jan 2022 #1
Gaugamela Jan 2022 #2
paulkienitz Jan 2022 #7
YP_Yooper Jan 2022 #3
roamer65 Jan 2022 #4
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Klaralven Jan 2022 #5
rampartc Jan 2022 #6
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