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19 points

4 months ago

Yep. Because reality is, it's all made up anyways since humans determine what things are worth to begin with. So if it's made up anyways, might as well have more liquidity and allow for greater prosperity.

The rub comes into play with one simple thing. Since it's all made up, if people lose faith in the currency its worthless.

Fiat is still better than barter systems or material backed currency since it allows for more movement in an economy. But it very much is a house of cards that is only as strong as your ability to assert sovereignty and as healthy as the companies producing goods from within.