Fuck-you-money is the freedom to remove yourself from a deal and walk away.
Can be #bitcoin, can be your prepper storage, can be guns, can be anything.
I think I just understood the term βfuck-you-moneyβ. It gives you leverage in money power games by threatening to escape a system.
An #nonbitcoin example:
- a friend has shares of a privately owned company
- he wants to renew his mortgage
- he ask his shareholder partners for a loan
- with the promise in his hands he goes to the bank threatening to cancel the mortgage
- the bank gives him a substantial discount
The company shares are the fuck-you-money.
Is it correct to assume that we lack experience with deflationary money because every system in the past was always watered down? Was there a system backed with completely pure gold/silver coin in the past which lasted for a longer time period?