Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard
Macro Musings with David Beckworth
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The Theory of Money
Carl Minger is the most prominent advocate or person who's articulated the more spontaneous view of money versus state theory. If you have credit without money, then what are you being repaid in? You're being repaid in some kind of commodity. And so the idea that credit precedes money does not contradict Minger's theory. It's another use for a commodity as a medium of exchange.
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