this post was submitted on 20 Jan 2026
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What, exactly, is fiat currency? (lemmygrad.ml)
submitted 7 months ago by into_highest_invite@lemmygrad.ml to c/asklemmygrad@lemmygrad.ml
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what is the deal with fiat currency? how does it arise and where does it attain its exchange-value? i'm currently participating in the hexbear capital reading group and in chapters 2 and 3 marx goes heavily into the way that gold standard money becomes exchange-value. fiat money is discussed only a little, and somewhat dismissively, although as far as i can tell none of the actual theory of the time precludes it from existing. are there any texts that go into it in detail?

important context: https://lemmygrad.ml/post/10346359/7603669

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[โ€“] DoctimusLime@lemmygrad.ml 0 points 7 months ago

Well said. Yes, we already live in socialism, just that it's socialism for the wealthy with harsh austerity for the rest of us.

I agree with everything you say there. It sounds more and more like a return to feudalism everytime I think about it.

The wealthy are literally trying to price working people out of existence. This is one of many forms of increasing class warfare we're forced to endure.

Certainly the only solution is organised militant resistance ๐Ÿ’ช eat the rich asap ๐Ÿ”ฅ