tag:blogger.com,1999:blog-1892824566694270102.post7041153501309621671..comments2024-01-27T00:46:34.345-08:00Comments on How Fiat Dies: How can a government run out of money?Vincent Catehttp://www.blogger.com/profile/06502618776820144289noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1892824566694270102.post-23931373150542091942012-04-07T01:02:57.623-07:002012-04-07T01:02:57.623-07:00MMT and MMR people don’t understand definitions. I...MMT and MMR people don’t understand definitions. If money is a medium of exchange, then all parties must freely accept it in exchange for goods or services. If anyone balks at accepting a currency, then it is not money. Counterfeit currency is not money, not because the notes lack official blessing, but due to the fact than anyone who knows what they are will not accept them. In a hyper inflation then all bank notes come to be perceived as counterfeit. The central bank is just the official counterfeiter.UrbanBardhttps://www.blogger.com/profile/07279158231358771366noreply@blogger.com