davel [he/him]

Pronouns he/him
Datetime Format RFC 3339
Country Union of Turtle Island Socialist Republics
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Joined 3 years ago
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Cake day: June 27th, 2023

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  • Another thing that gives fiat money value (at least domestically) is that the state will only accept tax payments in its own currency. Those taxes, which remove money from circulation, also moderate inflation. The sovereign’s debt is the money in the economy[1], which is why it’s in no one’s interest for the sovereign to pay off its debt.


    1. There’s also money created by private banks, with permission from the sovereign, by writing loans. ↩︎