DislikedThe acceptance of money involved intrinsic value ofcourse otherwise it’s a bag of hot potatoes and assume velocity will sustain value. Printing is not a good account for lack of velocity. its too hard for people to exchange utility for utility because during barter the possible complications with demand and supply thus a unit of account was created to denominate all credit to utility. although fiat has Ok unit of account and great medium of exchange it has no store of value which is a desired property of money.Ignored
Hoarding money solely doesn't confere intrinsic value.
You define intrinsic value only by conventional greed/caution, basically by the market/people's behaviour ??? Not by the basical needs !
You may even call it intrinsic value some fancy "objective calculation or complex financial model" ...but ultimately it's still related to the market value, because market is never wrong. So... relative value !
Now, cut from the market, a hot potato has utility - whilst a dollar bill is just paper (ok, even if it still can wipe your ass).
Utility makes the difference. That's how you can tell instruments from the basic stuff..
Again, hoarding money doesn't confere intrinsic value. Hoarding can only dismantle the printing for the purpose of boosting the spending effect, slowing velocity alright, but very soon those piles of money will considerabily lose value and it will get dumped in the market creating inflation, proving they hold shit, ...no intrinsic shit
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