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Results tagged with debt
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user 21936
An obligation to pay another party at some point in the future. Examples include national debt, corporate bonds, and household credit.
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3
answers
241
views
Can this transactions log become "money"?
Fiat notes
When I do some work for someone, and he/she pays me money, such as a 5 USD note, then the note is simply an indication of debt. … Before I spend that 5 USD note, it is just a debt (not of use) until I use it.
The reason this works is because people agree that a 5 USD note has certain value. …
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