PaulS
Touchdown! Greaser!
Not if you consider money merely as a store of value; a medium of exchange. In the barter world 3 deer pelts may be worth a side of pig among two people, and among two others a side of pig worth a jar of honey. But the guy with the pelts and the guy with the honey may have no interest in each other. If we assign those things a unit of value set according to millions of exemplary trades, its called money, and lots of different people can trade lots of different things.
So the core "belief" I have to have in the dollar, or a (real) pound sterling, is that someone else will accept it in exchange for something I want.
Well said. If everyone can produce it without producing some value then it becomes worthless.