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Feel free to try convincing me it actually works
OK. Go to a shop. Try and buy something with money. If they give you the thing in return for the money, then the currency is evidently working as intended as a universal medium of exchange.
This doesn't mean I can't voice my concern that there may well be a problem.
Indeed. But saying that a given system isn't perfect isn't a particularly productive use of bandwidth unless you have a genuine alternative. Besides, your comment that 'the path our leaders are dragging us down isn't a good one imo', while I'd agree with it entirely, does seem to be conflating the use of a fiat currency with political policies on the economy generally.
Brommers-
OK. Go to a shop. Try and buy something with money. If they give you the thing in return for the money, then the currency is evidently working as intended as a universal medium of exchange.
Isn't that money rather then fiat currency though, money has been around for bloody ages longer than fiat. I took the convince me it works comment as money has become so massively unequally distributed that it's obviously not working for everyone.
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OK. Go to a shop. Try and buy something with money. If they give you the thing in return for the money, then the currency is evidently working as intended as a universal medium of exchange.
Of course it works at that level, I'm referring to the larger monetary & financial system, not just the spendy bit. Though if my bag of crisps that costs 50p today would cost £50 next week due to a (admittedly rare) hyperinflation event then it'd suggest the system has failed people at that level at that point in time. That kind of event here may force us to choose dollar or euro to reset things.
On cash though, Some folks are nervous about cash being refused in many shops now. I'm undecided. It will be interesting to see if cash returns once the world is covid-safe.
Indeed. But saying that a given system isn't perfect isn't a particularly productive use of bandwidth unless you have a genuine alternative.
I dunno, folks can't voice an opinion without offering a solution? I'm acknowledging that I can't solve this, greater (and more altruistic than our money managers) minds are needed.
conflating the use of a fiat currency with political policies on the economy generally.
Probably. I'm at/beyond the limit of my brain here tbh, as evidenced above no doubt ;)
snottyotter
rhb
Feel free to try convincing me it actually works, and that it'll continue to work in the direction the world is heading.
As I replied before:
This doesn't mean I can't voice my concern that there may well be a problem.