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@ Juraj
2025-04-23 04:53:38
Yes, it was redeemable for gold, now it's not redeemable, but what is it? It is something, it's not air, otherwise you could take a mortgage and just walk away. What is the unit? The paper bill is not IOU.
Bank ledgers are subject to manipulation, but the number is not legally the bank's, otherwise they could not go bankrupt. What do they repay the debt with when you withdraw? What about when you send to other bank?
(The trick is that the dollar changes form, they are not the same, even though for practical reasons they look similar).