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Anything that works as money is bootstraped as a value token within society. "Serious" money simply reflects a serious society: transparent books, reliable soc
by openrisk 2y ago
Anything that works as money is bootstraped as a value token within society.
"Serious" money simply reflects a serious society: transparent books, reliable social contracts, diversified undertakings, resilient people and nature, truthful and lawful character, stable and boring. Money that reflects real economic exchanges rather than speculation.
The inverse attributes produce funny money: obfuscation, debasement, double books, smoke and mirrors, exploitation, captured institutions, subversion of the law and rampant speculation.
There is no easy way to good money. No secret sauce. The entire society must be behind its value.