Fiat money summarised
£50 note:
- cost of production: £0.07
- value according to govt: £50
1oz gold Britannia
- cost of production: £3,000 (price of 1oz of gold)
- value according to govt: £100 (check the coin image below)
Fiat money summarised
£50 note:
- cost of production: £0.07
- value according to govt: £50
1oz gold Britannia
- cost of production: £3,000 (price of 1oz of gold)
- value according to govt: £100 (check the coin image below)
The Party told you to ignore the evidence of your eyes and ears.
It was their final, most essential command.
- George Orwell, 1984