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Monetary Mechanics
Craig Everett edited this page 2026-02-06 20:10:03 +09:00
Table of Contents

Monetary Mechanics

Monetary Mechanics

At a basic level, there are three ways that money is implemented:

  1. Commodity reference: reserve notes, bonds, etc.
  2. Debt issuance: today's fiat currencies
  3. Ledger-based currency: Yap Rai in precolonial Micronesia, cryptocurrency today

One could spend decades elaborating on these categories, but the point would remain that there are varying mechanics available that can be used to convey common faith in a future value.