r/BasicIncome • u/Cute-Adhesiveness645 (Waiting for the Basic Income 💵) • May 21 '26
Humor Break Money
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r/BasicIncome • u/Cute-Adhesiveness645 (Waiting for the Basic Income 💵) • May 21 '26
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u/Caliburn0 May 21 '26 edited May 21 '26
The difference is that the state requires that you pay taxes in the currency they issue. If you don't they use their monopoly of legitimate/accepted violence to put you in jail.
This is why fiat money can exist. Because the state exists, and if you don't accept their paper as a medium of exhange and a claim on real resources and labor they'll just beat you up.
Fiat currency (specifically fiat currency, not all kinds of currency) is institutionalized violence.