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11 sats \ 1 reply \ @kepford OP 13h \ parent \ on: Which is Worse: Taxes or Fiat Money? econ
For sure they are. But taxes weren't invented in the US nor was fiat.
I was meaning on earth too. Not the US alone.
When did fiat start in USA?
1776?
1789?
1865?
1877?
1913?
1933?
1971?
Even during the gold standard, banks would issue notes for gold deposits but they were fractional.
A fiat system can work better without a central bank and without fractional reserve banking.
Currencies collapse because governments spend and waste tax dollars.
Fiat is imperfect like most things but taxation is worse
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