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9/15/2022 08:59:00 PM
> The fundamental nature of currency is that they are tokens of scarcity. This sounds like just dogma at this point. You can tell because you started repeating this sentence in different forms for 2 paragraphs. Currency is an accounting tool, which doesn't need to "represent" anything other than what we design it for based on the aims of our economic system. For a long time our economic system was designed around exploiting scarce natural resources and labor for the betterment of those who already possessed excess capital. That's why your definitions of economic terms are centered around those ideals. My only request is that you think about whether you really want our future economic system to function towards the same goals. (And the difference between liquidity and solvency constraints is pretty narrow in the grand scheme of different ways to structure this system. That's because the liquidity restrain should really be described as "the lesser of the liquidity and solvency constraints" which just happens to be the liquidity restraint )