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Fiat money gains its value through the power of the state to visit unpleasantness upon those who do not hand it over in payment of obligations to banks or tax collectors.

If your fiat currency requires belief to be valuable, then you're Doing It Wrong (and about to experience a very nasty currency crisis).

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Mar 18th, 2013 at 04:35:45 PM EST
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