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Modern finance likes to present itself as morally neutral, just markets, contracts, and efficient resource allocation. But there’s no such thing as a neutral system. Every financial structure encodes certain values and priorities, whether we acknowledge them or not. And…

We’re constantly told that money has value, that we should trust the system, that everything works as intended. But there’s a question most people never really think to ask: what is money actually backed by anymore? Not in theory, not…