AlexAnarcho on Nostr: from wikipedia The law states that any circulating currency consisting of both "good" ...
from wikipedia The law states that any circulating currency consisting of both "good" and "bad" money (both forms required to be accepted at equal value under legal tender law) quickly becomes dominated by the "bad" money.
so, a debased currency that is legally bound to a higher price than it would otherwise have on the free market. in this situation people get rid of their artificially overvalued coins first. understandably so.
and I misspoke on my previous post, artificially HIGHER prize/purchasing power
Published at
2023-11-25 14:10:31Event JSON
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"content": "from wikipedia The law states that any circulating currency consisting of both \"good\" and \"bad\" money (both forms required to be accepted at equal value under legal tender law) quickly becomes dominated by the \"bad\" money.\n\nso, a debased currency that is legally bound to a higher price than it would otherwise have on the free market. in this situation people get rid of their artificially overvalued coins first. understandably so.\n\nand I misspoke on my previous post, artificially HIGHER prize/purchasing power",
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