But labeling it with a dollar abstracts that reality slightly bit and units the stage for folks in energy (the federal government or the king) to steal cash from the general populace via coin debasement. 34/ Here’s how the coin debasement works: you stamp coins together with your model, you outlaw all other coins, you require taxes to be paid in stamped coins and if you get coins, you actually melt them and make more coins, every with less weight than earlier than. 33/ Under the hood, a dollar was (presupposed to be) nothing however a silver coin that weighs an ounce. You retain some of the newly invented coins for your self and release the remaining. So, instead of claiming something is worth an ounce of silver, you say something is price a dollar. 35/ Such coin debasement is a refined manner of stealing (or redistribution, depending on how you have a look at issues). Similarly, a pound sterling is a reputation for a specific weight of silver.

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