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WiM047 - The Saylor Series | Episode 11 | The Failures of Fiat
The "What is Money?" Show
Traveller's Checks Are Like a Derivative of a Derivate
Traveller's check is almost like a derivative of a derivative, t right? I me the pt, the paper money is on top of the gold or itself. And so people used to be very excited about these sort of things. The fiat standard is appealing because of the portability of the purchasing power and because it doesn't invite violence. If someone steals your credit card, you can cancel the credit card. They stole your travels checks, you could cancel the travellers checks,. Things like that. But why doesn't it work in the in the modern error? i mean, the fundmental problem is we start with inflation. Again, the government can create more of it, but here
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