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Information Overloader
Join Date: Mar 2003
Location: NW Lower Michigan
Posts: 29,787
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Currency is simply the metric of an agreement between parties as to the valuation of a tangible ‘asset’, if you will. The currency itself is irrelevant. In a collapse a company that produces a dark-colored carbonized sugar water may not be as valuable as a company that produces gold simply because humans have always valued gold. Be it in dollars, rubles or banana leaves, somebody will pay for it.
As to the grocery store scenario, if the dollar collapses, whomever has the most gold will determine how you pay for your crumbs of bread. The bread-seller will gladly take your specks of gold but more likely will ask how much gold you got: ‘Here’s a buncha banana leaves for all of it. Take it or leave it.
Last edited by Crowbob; 08-17-2020 at 10:02 AM..
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