Quote from: johnyj on March 18, 2020, 11:55:34 PM

Quote from: antikvark on March 18, 2020, 04:51:26 PM

They are debt based, that is, they have the "borrow-return" instance in their life cycle and that makes them equal. Regarding the rest. It is the taxpayers who provide goods and services in exchange for average Joe's USD when the borrower is the government. In that sense nothing changes since the average Joe receives goods and services when dollars are withdrawn from circulation via government's loan payments.

As I said, destroy of the central bank money is a very special case since the debt based money appears in 1971, other historical currency like gold and silver coins do not have this property, they never get "liquidated" by your definition. And other financial products like stocks also never get liquidated, or to say, their life cycle can be decades or centuries

Gold and silver are goods. They are never liquidated by definition. They are utilizable. Stocks are liquidable, they represent the ownership of physical assets. Also, stocks pay dividend and this is how stockholders recieve value. In bitcoin you can get value only via three-phased products that new investors brought into the scheme - which is how every Ponzi or pyramid scheme operates.