Fiat money summarised
£50 note:
- cost of production: £0.07
- value according to govt: £50
1oz gold Britannia
- cost of production: £3,000 (price of 1oz of gold)
- value according to govt: £100 (check the coin image below)
Login to reply
Replies (1)
The Party told you to ignore the evidence of your eyes and ears.
It was their final, most essential command.
- George Orwell, 1984