The Euro Shows That a Fiat Money System Is More Expensive than We Thought | Mises Wire

The traditional argument for fiduciary media and ultimately unbacked fiat money was based on the costs of production. The real resources otherwise used for gold mining and minting could, under a fiat standard, be used for other productive purposes and thus enrich society as a whole.
— Read on mises.org/wire/euro-shows-fiat-money-system-more-expensive-we-thought

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