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Why People Value Worthless Paper Money
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Why People Value Worthless Paper Money

by Peter Schiff, Schiff Gold: Fiat money is intrinsically worthless and yet people still value it. Where does this value come from? Our guest commentator cites Austrian thinkers Menger and Mises. He traces the purchasing power of paper money back its historical root: real money, i.e. physical gold. The following article was originally published by the Mises […]
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