A quick answer is “yes.” The dollar bill issued by the Central Bank and the bank deposit managed by consumer banks are all made out of thin air. But what about the money in circulation?
This brings us to Truth #5: The fiat economy works because of financial debt.
The financial symbol that we consider as fiat, a.k.a your dollars, euros, yens and pounds, etc, is backed by the real economy. That is why when we buy a house or a car, and when we start a business, the money materializes and becomes visible. What does this mean for crypto?
In this video, Two Prime CEO Marc Fleury shares how the fiat economy works in real life and describes the accretive financial instrument that is missing in the crypto industry.
Two Prime advocates for a deeper financial literacy by providing information and insights to close the knowledge gap and promote sustainable growth of the crypto industry.
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1) there is no guarantee or representation of value or liquidity for the FF Meta Tokens, and the purchase of the FF Meta Tokens is of speculative nature and none of Two Prime or its affiliates shall be responsible for or liable for the value of the FF Meta Tokens, the transferability and/or liquidity of the FF Meta Tokens and/or the availability of any market for the FF Meta Tokens through third parties or otherwise;
2) Two Prime intends the value of the FF Meta Tokens be maintained but the FF Meta Tokens may still be subject to fluctuation;
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