Continuing from yesterday's episode with Part 2 of our journey through Hoppe's amazing piece on the nature and origins of the fiat money system. Could such a system ever work in a competitive market, or are there extremely specific conditions and legal restrictions which make the contradiction of irredeemable paper money, temporarily sustainable? Listen to find out. "How is Fiat Money Possible." Don't forget to check out the vast collection of knowledge at Mises.org for this work and many more like it.
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