You're right. Fiat has been tried many times before, and ultimately fails. I should've said it was relatively new in its current iteration.
> neither is the concept of money. Earliest writings are for accounting and bookkeeping.
I did say there was a ~5000 year history, alluding to the Sumerian clay tablets/ledgers, like the famous "Kushim" tablet.
> The idea that money was minted only from precious metals, notably gold and silver is false.
Correct, but that's not what I was saying. I was simply providing the most well-known examples of commodity money.
You're right. Fiat has been tried many times before, and ultimately fails. I should've said it was relatively new in its current iteration.
> neither is the concept of money. Earliest writings are for accounting and bookkeeping.
I did say there was a ~5000 year history, alluding to the Sumerian clay tablets/ledgers, like the famous "Kushim" tablet.
> The idea that money was minted only from precious metals, notably gold and silver is false.
Correct, but that's not what I was saying. I was simply providing the most well-known examples of commodity money.