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What About Currency Revulsion?

The normal case—let us say, in the US or the UK or Japan—is that anything for sale is for sale in the domestic currency. These sovereign governments never find that they cannot buy something by issuing their own currency. However, the…

Taxes Drive Money

When the government issues a currency used as the money of account and accepts that currency in tax payment, it is not necessary to “back” the currency with precious metal or enforce legal tender laws. Taxes drive money.

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