Without a central bank or governments how can people determine the value of currency?
Is it possible that people can come to an agreement of its value? Who would print it?
Thanks
The better question is: With a state run fiat currency how can we determine the price of money?
It’s very simple, so long as the money is backed by a good then it will have value. As far as I know everyone here thinks that this will be gold. Gold has value in proportion to other goods, its value tends to be steady and gold itself is very valuable. As I’m sure you know there is a market rate to gold just as there is to everything else, therefore say, 1 dollar will be worth a single ounce of gold and then pretend it take 3 ounces of gold to buy a computer, that computer is worth 3 dollars.
Answer here.
Did you try to simulate the infinite loop in your head also?
The Money Regression
What point are you trying to make?
Who would make the shoes? Who would price them? Who would agree to the prices?
…
Anyone who wanted to.
The people selling them
The “agreement” on the prices comes about naturally via the mechanisms I propose. You need to read my stuff more carefully before criticizing it.
Click the “replied on” button in future to see to whom I am replying…
I can’t work out how clicking “replied on” tells me to whom you are replying.
I think it would be clearer to all, if you used the standard quote mechanism, so we can see who your quips are directed at.
It’s a button next to the username and it saves me space. Unless your web-browser won’t enable it, it should be there.
The non-monetary value provides an anchor, for whatever begins to emerge as money. Whatever is chosen as a medium of economic exchange - it would start at it’s non-monetary market value.
What do you mean by print? Pure paper currencies have no intrinsic (non-monetary) value. That’s where the “fiat” part comes in. They require force in order to be used as a medium of exchange, and therefore would not be used in an ancap society.