diff --git a/Monetary-Mechanics.md b/Monetary-Mechanics.md new file mode 100644 index 0000000..9d86346 --- /dev/null +++ b/Monetary-Mechanics.md @@ -0,0 +1,11 @@ +# Monetary Mechanics + +![Monetary Mechanics](../../raw/branch/master/img/MonetaryMechanics.jpeg) + +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. \ No newline at end of file