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0 pointsprogrammarchy9y ago0 comments

You're describing fiat currency, a subset of currency. Historically, a nation state is not a prerequisite for currencies to exist.

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dragonwriter9y ago

Actually, GP is discussing legal tender, which is not the same thing as fiat currency. Commodity (both specie or representational) currencies have historically been legal tender, in addition to fiat money (which is the modern norm for legal tender.)

bogomipz9y ago

Agreed, I actually checked investoepdia and a government issue seems to be part of the agreed upon "modern" definition it seems.

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