[vladd]

People cannot create fiat currencies out of thin air. When done it's a crime (currency forgery).

[mrkeen]

That's precisely what fiat currencies are. Currencies which can be created out of thin air. That's what 'fiat' means - "Let there be".

Fiat currencies are 'fiat' in stark comparison to wealth which can't be created out of thin air, e.g. gold or cryptographically-protected numbers.

[Marsymars]

That doesn't sound right. e.g. https://en.wikipedia.org/wiki/Canadian_Tire_money

[alephnerd]

Have you ever been to a Canadian Tires?

CTM is used the same way you'd use Airline Miles or Credit Card Points.

[carlosjobim]

It's a crime if you or I do it. It's a blessing of quantitative easing when the rulers - our lords and saviors - do it.

[pixl97]

Yea, turns out the rule of law works rather well, and when it doesn't work well nothing is going to stop the henchmen from beating you to death with a hammer anyway. What makes a government a government is their monopoly on violence, what makes a good government good is only having to minimally exercise their monopoly.

[wolverine876]

The essential point is that they are not ruler or lords or saviors. We hired them to work for us, and democracies turn out to work better than any other form of government in history (and it's not close).

We are the rulers, lords, and the only hope for our own salvation. You'd better get to work.

[misnome]

Vs the very poor peasants of the people who run the mining companies or control the software? Haven’t you just swapped one set of sovereigns for another?