沒學過經濟，有些好奇的問題:

Suppose some psychic issues some junk  but manages to make people think it is genuine silver, then it would work just fine as silver currency? Logically, does that demonstrate the arbitrariness of silver as currency?

China gained the arbitrary silver from the West while the west gained definite goods from China. What is the justification in here?

Suppose the Chinese government then had sufficient authority and control to issue paper currency like today, would it work out without the silver?