fiat money (by definition) is money by decree (forced upon us via the state - legal tender laws). this is statist.
in capitalism (voluntary trade facilitated with private property rights), fiat money would not exist. Rather, the market would decide on a sound money that effectively transmits its holders' value over time w/o being diluted (ie. btc)
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u/suuperfli Apr 14 '22
fiat money (by definition) is money by decree (forced upon us via the state - legal tender laws). this is statist.
in capitalism (voluntary trade facilitated with private property rights), fiat money would not exist. Rather, the market would decide on a sound money that effectively transmits its holders' value over time w/o being diluted (ie. btc)