Replying to Avatar Michael Matulef

Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.

Carl Menger
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StackSats.IO 2y ago

This is what Midwit Monetary Theorists fail to understand. Money is an emergent phenomenon, it is different for every person at different times and situations.

Legal tender laws do not define money, the parties to a transaction do.

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