BRICS gold-backed currency and the many issues that it needs to overcome. The main concern is, who do you trust to hold the gold?
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In other words, you are splitting hairs on a topic to be technically correct? As it stands, you will never ever have your definition of a free market completely unencumbered by restrictions. A "fiat" currency is currency that is used from authority. A commodity-based currency is based on a commodity as a portion of that commodity. You can have both (fiat dollars based on gold) or you can have simply gold coins, which is not fiat even if you have a king's face on the coin as you can melt down the gold and use it for barter or in items you want to build (like electronics or w/e).
This is very confusing of a response.
I have no idea why you say this, unless I just don't understand your response (it is confusing). In general, this is not something that I do, because I don't actually care about being "correct" (or at least I care less than most people). I'm an investigator. I dig deep. Putting aside my preconceptions or desires is a fundamental part of my investigations. That doesn't mean it's impossible for me to get the bit in my teeth, but you have not supported the assertion that I am doing that here in your response.
Why?
"Issued from authority" yes, "used" is not quite the right word, but close enough. We'll call that "agreed."
Agreed.
Agreed on all counts. The problem is, nothing that I said disagrees with these statements. Instead, you completely skipped addressing everything that I actually said (which is why it was confusing).
Because i summed up what you said three to four times in a row with my question, because thats what I got from it. It started sounding like a no true scottsman traffic circle.
From my perspective this has nothing to do with what happened. You were saying that a fiat currency was the right way to do things and that barter was not. You also stated that you could have a free market without barter. I presented an argument against those assertions.
I suggest you didn't actually read it if that's what you got from it. At the least you are making an accusation without showing the evidence to support it.
I said, explicitly, that barter wasnt better, but i made no case for fiat or commodity backed currency outside of use of them as a tool for comparison. I never said that fiat was "the right way to do things" I was pointing out inconsistencies and flaws in your arguments about barter being better and/or the only way a free market can exist. Then at one time you said that fiat and commodity based currencies are the same and then you immediately agreed with my delineation of them.
I cannot hope to save you from confusion if you are the only one in the whirlwind.