Money Certificates ~ Ethics of Money Production
World Crypto Network
A reading of chapters 2-3 from Jörg Guido Hülsmann's "The Ethics of Money Production" argues that coinage's value derives from minter trustworthiness, not government fiat, and that competitive private minting minimizes fraud better than state monopoly. Money substitutes (banknotes, token coins) reduce transaction costs but enable fractional reserve fraud; historical examples include the 1600s Gold
https://relay.towardsliberty.com/c1db5a3af50ef7f408ec6eff72e1bdaf7beb4865f8909968e7b8ed1acc1dcf33.mp4
World Crypto Network
A reading of chapters 2-3 from Jörg Guido Hülsmann's "The Ethics of Money Production" argues that coinage's value derives from minter trustworthiness, not government fiat, and that competitive private minting minimizes fraud better than state monopoly. Money substitutes (banknotes, token coins) reduce transaction costs but enable fractional reserve fraud; historical examples include the 1600s Gold
https://relay.towardsliberty.com/c1db5a3af50ef7f408ec6eff72e1bdaf7beb4865f8909968e7b8ed1acc1dcf33.mp4