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Cake day: August 6th, 2023

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  • Ehhh, not sure I’d go that far. Money, no matter what backs it, is just what people value it as. Just that when backed by real goods, e.g. gold, that it gives people a better reason to value it because the goods are worth something.

    Mostly saying, money backed by a good have at least the value of the good itself. Which I would say makes money not fake.

    When it’s backed by belief, then it’s fake.