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1063020
Board
Economics
Re: An Honest Introduction to Money
by
johnyj
on
17/05/2015, 02:24:53 UTC
That was long
Money must be produced with similar value of its face value, otherwise it is just a IOU promise. However, since value is all subjective, the subjective measure of an IOU's value thus is based on the creditworthiness of the issuer