This is a short post to share just one idea revealing the true value of money. Our financial security is based on trust; trust that available currency can be exchanged for a loaf of bread or anything of real value. All of the sophisticated financial analysis, all of the currency in the world is only relevant when the true value of money is seen in this light. In this light, the exchange of currencies, stocks, bitcoin, and so on among themselves, are based on whims and whispers and can be very dangerous when they quickly erode trust in currencies and financial systems. What a shaky foundation we have built for our financial security.
When we learn enough to build a financial system based on real value (1 coin = 1 basic loaf of bread, 5 coins = 1 hour of heavy labor) then the real value of money is evident. A crypto currency based on exchange of goods and services would be of real value. Of course, all of the sophisticated analysis would still apply, but it would really mean something more than just whims and whispers.
2 thoughts on “Whims and Whispers”
Sure thing Dr Samuelson
Hi Dr. Samuelson, I have recently come across a great book called Digest of the Divine Law published 75 years ago in 1943, authored by a lawyer, Howard Rand. Great book!! On page 199 onward in the Appendix, he talked about the true value of money and wealth. You may find a lot of wisdom and insights from that old and yet very valuable book. https://www.amazon.com/Digest-Divine-Law-Howard-Rand/dp/1163161454/ref=sr_1_1?ie=UTF8&qid=1543987195&sr=8-1&keywords=digest+of+the+divine+law++howard+rand
Here is the beginning of that Appendix
‘We have a unit of length, …capacity…& weight …but- the US STILL LACKS A STANDARD UNIT FOR WEALTH
highly recommend that book to anyone!
Connie Lim Ontario Canada