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Catfish · 12-15-20, 04:33 PM

It is not all wrong, however i beg to differ that a currency 'guarantee' only exists if people agree on its value.
Gold is certainly a standard, but more is being found every day, also after WW2 you could not even buy a loaf of bread with a bar of gold, seems the farmers did not agree to the value when bread was scarce, and needed to survive.

If enough people agree on a currency, and be it toilet paper, it is worth what people give for it. And that depends on time and general cirumstances of trade.

12-15-20, 04:33 PM	#11
Catfish Dipped Squirrel Operative Join Date: Sep 2001 Location: ..where the ocean meets the sky Posts: 17,767 Downloads: 38 Uploads: 0	It is not all wrong, however i beg to differ that a currency 'guarantee' only exists if people agree on its value. Gold is certainly a standard, but more is being found every day, also after WW2 you could not even buy a loaf of bread with a bar of gold, seems the farmers did not agree to the value when bread was scarce, and needed to survive. If enough people agree on a currency, and be it toilet paper, it is worth what people give for it. And that depends on time and general cirumstances of trade. __________________ >^..^<*)))>{ All generalizations are wrong.