Bank of England writes that banknotes are IOUs but can only be repaid by another banknote. Is this not circular reasoning ? What are they promising you ? Is it another promise ad infinitum ?
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What is money
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08-09-2017, 02:22 PM
(08-09-2017, 08:33 AM)Add1840 Wrote: Bank of England writes that banknotes are IOUs but can only be repaid by another banknote. Is this not circular reasoning ? What are they promising you ? Is it another promise ad infinitum ? Yes. and the same with all Country's currency. ultimately getting value by tradition, faith in acceptability by others and finally/ultimately by the IOU's being required to pay taxes and that, simply, is IT. scary huh 
08-09-2017, 02:47 PM
I think they're going to cure your conundrum by taking away your bank notes and coin and by placing a micro-chip in your hand and forehead.
After all, money us "all in your head" anyway. oly 
08-09-2017, 03:39 PM
(08-09-2017, 02:47 PM)oly2059 Wrote: I think they're going to cure your conundrum by taking away your bank notes and coin and by placing a micro-chip in your hand and forehead. Right. You can cut off a hand and live but you can't cut off a head and live.
11-15-2018, 05:09 PM
(08-09-2017, 02:47 PM)oly2059 Wrote: I think they're going to cure your conundrum by taking away your bank notes and coin and by placing a micro-chip in your hand and forehead. England did decide to keep Venezuela's gold. Bank Of England We Have A Problem: Venezuela Wants Its Gold Back ... https://www.silverdoctors.com › Gold › Gold News Nov 5, 2018 - Using the time-tested, good old-fashioned "run around" stall tactic, the BOE has a lame excuse as to why it can't give Venezuela its gold back ... |
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