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NewClayburn t1_irb2393 wrote

Would this have any meaningful effect though? If anything, couldn't the British government just say "Hey, these are good enough we'll accept them." and then save some money on minting?

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substantial-freud t1_irps2qu wrote

It’s about quantity.

If the quantity of money in circulation doubled, the purchasing power halves — and everyone loses faith in the currency.

“The best way to destroy the capitalist system is to debauch the currency.” — John Maynard Keynes

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