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Re: <nettime> Live Your Models
Florian Cramer on Thu, 5 May 2016 00:22:11 +0200 (CEST)


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Re: <nettime> Live Your Models


     Debt is a separate phenomenon, and not necessarily related to
     non-fiat currencies, possession does not automatically imply debt,
     eg. if I invest my time into digging gold, and find some, who owes
     me? Debt is predicated on enforcement capabilities, without which it
     does not exist (without enforcement, there is no debt, but there is
     gold.)

   But gold has hardly any intrinsic value - even less so than in the past
   as it is no longer the best material to fill dental cavities - so it
   boils down to a token of exchange, and hence for assets and debt.
   Otherwise, you're just sitting on a pile of metal.

   Florian

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