Topic: Legal Tender

1 chapters across the catalog

63: We Are People 1
• 1:18:21 - 1:23:10

63: We Are People 1

Khan Academy on Commodity vs. Fiat Money

The hosts play a Khan Academy lesson explaining the difference between silver-backed "commodity money" and government-decreed "fiat money." Mo Facts applies this to the "WAP" discussion, arguing that traditional relationships were a "commodity" backed by the "dividend" of children, whereas the modern version is "fiat"—valuable only because of social trust and market manipulation.