no, it's backed by the actual marginal aggregate production function

formally, the first derivative of the aggregate production of the country as a function

so the currency changes relative to the rate of production

rate of production is a physical system, it's real not imagined speculation

So paper backed by nothing, but with a constant quantity?

That's still fiat, bruh.

it's backed by the physical rate of production dude

the rate of production isn't speculated on in terms of value

You could say the same about USD.

Or any other fiat currency. It's still fiat.

no..... because I just explained that fiat currency is modeled via fischeran formula

which I literally gave you, I think your problem is you're tackling nuanced economic concepts which you don't quite understand as a layman, no offense

Also another country can btfo your production and beat you. You need to operate in a global market and compete and deal with fluctuating values. There are no constants

Its the incentive to random science

no, because just because we have this system doesn't mean others would employ it, the plutocracies would commit suicide if they adopted this system because it would undermine their money demand power

it's game theoretically optimal too, since your enemies literally can't use it lest they basically become us over time

Venezuela

venezuela had issues because of cia interference

And many many others

@Vril-Gesellschaft so if I redeem one of your "dollars" what do I get?

Gold?

Even gold was traded it was still an issue

A basket of goods?

India got btfo because cotton picking

And another country got better than them.

By being backed by production, do you just mean I can buy shit with it in the economy?

Euro and usa had to intervene with oil. Y your system it was their turn

Is there anything in the bank reserves?

@halfthink I'll be back in a bit just cooking some boiling macaroni so can't talk

Kk. That sounds fucking good right now

i'm hungry now. your fault @Vril-Gesellschaft

Wtf did I just walk into?

Nazi LARPer expert econ undergrad.

I like him

If i got in another debate with another ancap in this discord ima lose it

Taxation is theft, bruh.

@halfthink >everyone who disagrees with liberalism strongly is a larper

I'm an ancap, nigger.

ancaps are hyper liberals

they triple down on liberalism because they don't know any alternative way

Depends what you mean by liberalism.