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Comment by koolkat

Fiat currency is debt. Its in its definition. Gold coins is gold. But you are right i should have said fiat currency not money. Thanks.

Edit maybe fiat currency is only debt when created through borrowing (like most of the currencys right now). But its a bit ambiguous to me because if it was diferent and goverments were alowed to produce money instead of borrowing it from the ones with the monopoly of money creation. The first time they introduce a surplus of currency to the system or the first time the currency apears the party accepting the currency in exchange for value would be making a loan of value to the goverment or an investment.

parent koolkat 11 years ago

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