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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (14954)	12/21/2022 3:03:19 PM
From: Hank Scorpio	Read Replies (2) \| Respond to of 26510

OK well. All of my economics professors and the textbooks they used told me that the value of a fiat currency is directly derived from the ability of the said country to leverage the value and output of its citizens. That is a very real and very powerful ability. Your argument wrt. oil is a meaningful point. All of this said, however, it still doesn't address where crypto gets its value. Even if I accept the argument that a countries' currency has value simply because people think it has value, that said country has infinite more ways to back and extract that value and cause those people to think that the value is there. Crypto has nothing more than a mass psychosis. ;)))