On Oct 30, 2011, at 9:05 PM, Sabri Oncu wrote:
Another thing: in a sense commodity money is fiat money also, unless a commodity itself is used for payment. Because the state can chose whatever commodity to pay in exchange of whatever money it issues. Aren't I right? But, what if there is no state?
No state=no money
Or if there are many states and other states do not accept what my state chooses?
Your money exists, but only within your borders. Something else is needed for external trade.
Shane Mage > This cosmos did none of gods or men make, but it > always was and is and shall be: an everlasting fire, > kindling in measures and going out in measures." > > Herakleitos of Ephesos
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