Delusional Thinking & “Fiat Money”

How “anchoring” a currency changes nothing at all.

Image credit: Ibrahim Rifath on Unsplash

Money is one of the few things that distinguish humans from other primates. While various species of primate engage in barter, homo sapiens is the only primate that has invented the concept of fungibility.

Without money, the modern world would be completely impossible. Suppose you want to buy an automobile. Well, what does the…