Apr 19, 2017 8:15am
FIAT MONEY?
It’s not that it’s a good thing. It’s that you can’t compete without it.
Nuclear weapons, chemical weapons, nitrocellulose, gunpowder, are not ‘a good thing’ in any sense like copper, bronze, iron, and steel are good things.
But once extant one must master them or be mastered by them. Fiat money must be mastered or you will be mastered by those who master it.
Fiat money is not ‘money’ but a money substitute – a form of token, consisting of tradable shares in the organization we call the state.
Just as one used to buy tickets for rides at the amusement park so that the ride-owners would not evade their fees, we buy fiat money so that all commerce in the market is burdened by fees.
We cannot chose NO MARKET to participate in (state) so we are left with choosing the markets available. And if we tried to create a libertarian polity without funding that market we would be defeated by any number of forces internal and external.