/biz/ - Business & Finance

>>18331290
>Cause, i mean, if money is not real, it's an abstraction, what's morally stopping people from issuing their own money?
>Maybe i'm too much of a brainlet, but i don't get it.
>Can any fag here help me out?
>Let's have a fun discussion.

An Interview with F. A. Hayek (1984)
https://www.youtube.com/watch?v=s-k_Fc63tZI&ab_channel=LibertyInOurTime
Hayek talks about how he thinks a return to the gold standard is impossible.

What helped me understand money on the next level was Nick Szabo's paper shelling out, the video below reads the paper and provides images to match what the paper is talking about.

Shelling Out: The Origins of Money (FULL VIDEO)
https://youtu.be/gOLsPR36miI

You can issue your own money fine.
https://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States#1837%E2%80%931862:_%22Free_Banking%22_Era
this has already happened in the so called "Free Banking Era"

But if you issue your own money who will accept it?
It really depends on the size of the network or people who accept your money on whether your money will have value or not.

https://en.wikipedia.org/wiki/Metcalfe%27s_law

>>16467580
>Exactly
KEK!
what an awesome meme!
ugly duckling to beautiful swan...