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The problem you're describing with physical coinage is one of the reasons why paper money was invented in Europe, among other places
by all2well 4y ago
The problem you're describing with physical coinage is one of the reasons why paper money was invented in Europe, among other places
- randomhodler84 4y agoRight — however it was always an abstraction. Lose gold at sea? Well just because the bank ignores this event and issues more paper doesn’t mean the ship didn’t sink. I understand that the concept of reversibility is highly desirable, but that bank can not raise the sunken ship right now. It has to take the loss and not just pretend it didn’t happen. Reversibility is always an illusion. Most things in this universe are actually permanent.
- rideontime 4y agoYou're right, there's enough irreversible things in this universe already. Let's make something better.