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Politics : The Trump Presidency
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To: i-node who wrote (221703)1/4/2022 9:32:22 PM
From: combjelly  Read Replies (4) of 360032
 
Money is a stand-in for value.

Say what? Money represents goods and services. A replacement for barter. While the physical representation of the money might be something scarce and considered to be of value because of that, like gold, it doesn't have to be. What is important is a general agreement of the value. Or at least in conventional economics. MMT breaks with that and is the reason it is controversial.

Your "analysis" of cryptocurrencies is equally whacked. Bitcoins are valuable because some people regard them as such. Otherwise, they are worth less than tulips, which actually have a use outside of their valuation.
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