Everything is fiat. There is no such thing as intrinsic value.
Nigger doesn’t understand the meaning of fiat.
Don't get down on yourself. Fiat in the context of value means something that has value by decree. It's easy to learn.
“By decree.”
And there’s where you prove you’re stupid rather than ignorant.
Decree means force of government.
You don’t know the difference between subjective value and mandated value.
If I have a barrel of apples, they have intrinsic, albeit subjective, value. When I approach somebody else who has a crate of ten penny nails, which also have intrinsic, albeit subjective, value, we assess our wants, find the coincidence by which trade can occur, and negotiate. It’s bartering, or “in kind” specie transaction.
When your nigger ass shows up with a stack of gubmint paper that reads “legal tender” on it, and you try to force us to accept it as payment, that’s fiat.
intrinsic
belonging naturally;
essential.
water food shelter
Many things and skills are essential to life and therefore have intrinsic value.
In finance, the intrinsic value of an asset usually refers to a value calculated on simplified assumptions.
Simple assumption: Everyone "needs" food and water to live.
Based on that assumption trading water for food is worth it.
worth
equivalent in
valueto the sum or item specified.
water food shelter
Ok. How much water is a food worth, then?
That depends on how hungry or thirsty both parties are. There is no rule that says things have to have a "fixed value" in order to be valuable.
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