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rampartc

(5,440 posts)

6. modern monetary theory explains that the value of the fiat dollar is maintained

Reply to paulkienitz (Original post)

Wed Jan 19, 2022, 05:51 PM

Jan 2022

by the fact that dollars, to the exclusion of all other media of exchange, will be accepted as payment of taxes.

when taxws are lowered, the value of the dollar decreases as well.

i don't doubt that republicans are so stupid (which is really a nice way to say economically illiterate) that they will soon accept bitcoin as tax payments.

“The process by which money is created is so simple that the mind is repelled.”

― John Kenneth Galbraith,

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why fiat currencies are stable [View all] paulkienitz Jan 2022 OP

They are as stable as the government that backs them. fescuerescue Jan 2022 #1

Out of curiosity (I'm not disputing what you're saying), Gaugamela Jan 2022 #2

I think the answer to that question would have to be determined by trial and error methods paulkienitz Jan 2022 #7

Love the topic YP_Yooper Jan 2022 #3

Voltaire. roamer65 Jan 2022 #4

They are sort of stable because the government requires people to use them to pay taxes Klaralven Jan 2022 #5

modern monetary theory explains that the value of the fiat dollar is maintained rampartc Jan 2022 #6