Comments by "DynamicWorlds" (@dynamicworlds1) on "'Black Money' scam in the Tri-State" video.

  1. SHONUFF you're confusing cost of production with value. Fiat just like any government-issued currency does have value. Value, in the economic sense, is created by a near universal demand. Since the government only accepts it's own currency for taxes and fees, there is near univeral demand for said currency, so people trade it. The other important components are it being imperishable, portable, and difficult to counterfeit, which is why precious metals have been favored in the past. However, their prices and supplies fluctuate too, often out of control (including to the point of hyper-inflation) and make expanding the money supply when needed difficult. Sure, an irresponsible government can mismanage a fiat currency, but there are plenty of problems with commodity-backed currency as well. Bitcoin and other crypto currencies are a bit more complicated than I can easily break down in a youtube comment, but they're not entirely without either value or problems of their own.
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