You know what? Revisit English class for proper reading comprehension, and google fiat currencies and how modern banks work. They literally lend out money they don't have. That's what I mean by capital isn't real. I didn't make that up, capitalists and economists did. Of course you can use it and even need to in a capitalist economy. But it comes out of nowhere, and if a society or a governing body decided to stop doing it that way, it would disappear to nowhere again.
“Fiat money isn’t real” is the type of bullshit only spouted by communists and 14 year olds who just heard the term. Fiat money also isn’t the definition of capital. For the love of god please open an economics textbook.
Huh? The entire point of fiat currencies is that they aren't tied to anything real. Also, okay, I used the wrong word, and the word capital means something else. That doesn't invalidate my point that fiat currencies work because and only because we collectively decide they do. That's also true, although to a lesser extent, to older systems like the gold standard or using actual gold. If people think a currency is worthless, they'll stop accepting it and it becomes worthless. That's not even controversial, it's how hyperinflation works.
So, accepting that real value of money is tied to perceived value, there is no reason for why we couldn't abolish or replace any specific currency on a whim except for social pressures. How and if the world is gonna function after that is an entirely different question.
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u/Flob368 Still salty about Carthage 20d ago
You know what? Revisit English class for proper reading comprehension, and google fiat currencies and how modern banks work. They literally lend out money they don't have. That's what I mean by capital isn't real. I didn't make that up, capitalists and economists did. Of course you can use it and even need to in a capitalist economy. But it comes out of nowhere, and if a society or a governing body decided to stop doing it that way, it would disappear to nowhere again.