Reagraham Lincool wrote:MarcusAurelius wrote:it's easy to get rid of currency when you have no coherent government to force it's acceptance. the dollars in my pocket have zero intrinsic value. don't act like trading goods instead of paper bills is some amazing success story. fallout3 was stupid for letting you buy water for bottle caps.
It's true that they don't have "intrinsic" value, but it's the shared belief that currency can be exchanged for something with intrinsic value at a later date that gives it value. That belief CAN come from government force, but to claim it MUST (rather than say, organically produced common convention) needs a little more argumentation.
Can you tell me of any society that managed to use intrinsically valueless currency without a government enforcer? Even the US used to have a gold standard, which, while not necessarily valuable to a common man, still has the "it's shiny and rare" aspect.