Specifically the idea that the issuing government either won’t default on its debts any time soon, or that it’s big enough to dominate the world order enough that it can run up its debts without somebody taking a shot at the king. It sounds less religious and more like a game of king of the hill from this perspective.
I know Yuval Harari’s perspective is that money is the “first religion of man”, and I think it’s useful in the context of discussing how mankind evolved, but considering the modern world I prefer Ray Dalio’s perspective: “money is (are?) the house chips in the casino of whoever dominates the current world order.”
At the end of the day, it’s weapons and businesses that give value to money.
Specifically the idea that the issuing government either won’t default on its debts any time soon, or that it’s big enough to dominate the world order enough that it can run up its debts without somebody taking a shot at the king. It sounds less religious and more like a game of king of the hill from this perspective.
I know Yuval Harari’s perspective is that money is the “first religion of man”, and I think it’s useful in the context of discussing how mankind evolved, but considering the modern world I prefer Ray Dalio’s perspective: “money is (are?) the house chips in the casino of whoever dominates the current world order.”
At the end of the day, it’s weapons and businesses that give value to money.