Muslim Bitcoiner on Nostr: As much as I love Hallaq's Impossible State (and I highly recommend you read it as ...

As much as I love Hallaq's Impossible State (and I highly recommend you read it as it's part of the Muslim Bitcoiner reading list!), the one thing that annoyed me was the complete neglect of Fiat Money as an essential apparatus of the state. Actually, I'd argue that it's quite impossible to conceive of a modern state without the necessary institution of fiat money, as that's the main way (and perhaps the only way) the modern state funds itself and maintains its bureaucratic machinery.

Hallaq even had an aptly titled chapter, "Beleaguering Globalization and Moral Economy" and even starts off the chapter with a quote by Georg Simmel about money. Hallaq understandably goes on and on about capitalism, corporations, and globalization, but neglects to explore the global institution of usurious fiat money and fractional reserve banking and their role in maintaining the state's sovereignty, legislative monopoly, and bureaucratic machinery. It would have made this chapter and the book a lot stronger if he explored it.