Creative
Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

Automation Will Deflate A Fiat Economy

At the expense of mass unemployment, but people can and will adapt, with new jobs being created as a result of old jobs vanishing. But then again, since fiat isn't even real money, and stuff like interest and inflation are supposed to checks/balances against fiat, wouldn't deflation and automation be the counter to those 2? Of course though, most people still believe in the lie that fiat currency has any real value, when it doesn't at all unlike commodity backed and commodity based currencies. Although if we wanna get real philosophical, then money in of itself doesn't have any value unless it's valued by other people in a society.
Top | New | Old
ViciDraco · 41-45, M Best Comment
Money not being real doesn't have anything to do with being fiat. A gold backed currency is only as valuable as people agree gold is. If people come to believe gold is worthless, then gold backed currencies are just as dead as fiat. Interest and inflation happen in gold backed economies as well.

All money is backed by faith. Always has been. Some people just believe a tangible item (gold) is easier to have faith in than the reputation of reliably from a government (fiat). But that's the same thing as people from different religions thinking it is easier to have faith in their chosen version.
@ViciDraco i 💯 agree with you that interest and inflation aren't real; they're just social constructs meant to stimulate the economy, make the banks rich, and screw the poor over
ViciDraco · 41-45, M
@uikakarotuevegeta people need toilet paper than more than gold, I would argue.
@ViciDraco well that depends where, and most money bills aren't exactly suitable as toilet paper, especially the bills made of plastic

jehova · 31-35, M
Its literally worth the material its printed on. Thats why it was "originally" printed on hemp paper.
jehova · 31-35, M
@uikakarotuevegeta yes its printed on 75%cotton and 25% linen now; Worthless. Hemp would have had and has more value.
@jehova well cotton is better than polyester for people like me with dry skin lol
jehova · 31-35, M
@uikakarotuevegeta well there is that!

 
Post Comment