A question of money...
No one, including the experts, asks that question about money . Maybe the answer is too obvious?
I do not think so. If everybody did know the answer the world would be a different place.
What is that question...?
In the good old days of the gold rush if you struck it lucky you could take the refined gold (bullion) to the mint and for a relatively small fee you could pocket the resulting money as a reward for your trouble and luck.
Those were the days when money had intrinsic value.
If course, rich people did not want to carry around bags of gold coins. So they hired a space in the in a gold smith's stong room and carried the goldsmith's receipt around as a proof that they had money and only need to get it back from the gold smiths.
I do not think so. If everybody did know the answer the world would be a different place.
What is that question...?
In the good old days of the gold rush if you struck it lucky you could take the refined gold (bullion) to the mint and for a relatively small fee you could pocket the resulting money as a reward for your trouble and luck.
Those were the days when money had intrinsic value.
If course, rich people did not want to carry around bags of gold coins. So they hired a space in the in a gold smith's stong room and carried the goldsmith's receipt around as a proof that they had money and only need to get it back from the gold smiths.
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Comment by Gyula Julius Reznicsek on November 5, 2010 at 9:43am
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Comment by Janos Abel on January 14, 2010 at 12:08pm
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Thanks for keeping an eye on my blogs. I believe that certain questions about money are among the most important ones one can ask in trying to understand modern society and in imagining "what world to shift to".
The reference to the "gold rush" days was really a kind of clue to the question no one seems to be asking about money. It was by no means the intention to suggest that they were "good days".
Ferdinand asked the question (in different words---"Who should control... money?") I had in mind. More fundamentally, "Where does (modern) money come from in the first place?" That is, who manufactures it? The question goes deeper than asking what is money or what is its function.
The answer surprises most people and rouses strong denial of its truth in some. It, the answer, also strikes at the root of one of the central problems and opportunities of the global socio-economic system.
This is because whatever authority is empowered to create the money supply of a society has an overall control of all the important functions in it. the area of interest where such discourse takes place goes under the general name of Monetary Reform.
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Comment by Ferdinand Zanda on January 13, 2010 at 10:45pm -
Why can't we trust our money for what it's worth?
What is the purpose of money?
What are the dangers of money?
Who should control the money?
Do we even need money?
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