What is money?

ampersat · 09-28-2008, 04:14 AM

pdxkevin · 09-28-2008, 06:29 AM

That was a good one. I hadn't seen it before. It was fun to check out the background vehicles and things.

Have you seen the different ways people count money?

Jennie@ifish · 09-28-2008, 06:42 AM

That was fun to watch. You sure come up with great stuff, Amp.

Fast Water · 09-28-2008, 10:16 AM

Thanks for the link Amp.

ampersat · 09-28-2008, 12:14 PM

That's pretty cool. I never thought there would be a different way to do it, much less so many different ways.

Quote:

Originally Posted by pdxkevin

That was a good one. I hadn't seen it before. It was fun to check out the background vehicles and things.

Have you seen the different ways people count money?

yankemnbankem · 09-28-2008, 01:27 PM

We all must be comfortable with our government since we are all still willing to spend spend spend!
It left out the fact that everytime you spend that 5, it gets a few cents in tax taken out of it and soon becomes nothing rather quickly!

The other thing about the video I didnt see is.... the crack head stealing johnnys tv so he too could barter.

ampersat · 09-28-2008, 01:37 PM

He's waiting for Mary to get that nice new radio. Then he'll steal it.

lentz · 09-28-2008, 02:33 PM

I was going to watch the video earlier this morning but i didn't have time. So this afternoon i went to watch it and it says that the video is no longer available

.

Fried Oyster · 09-28-2008, 05:37 PM

Quote: refering to the cash value of currency: "Their face values are .... gauranteed....by the stability of the government which fixed those values....as long as the people remain confident that our government is strong and secure....they will continue to accept and spend its money without questioning its value....."

Not so sure that is the case anymore.

"....since the value of our money is fixed by the government....we use it as a standard for measuring other values...."

"....its value has been fixed and guaranteed by the government...."

Tragic. Wish I lived in the fifties.

Oyster

ampersat · 09-28-2008, 07:22 PM

Just a tad bit ironic, isn't it?

Silver Hilton · 09-28-2008, 07:50 PM

You know, Money, as a concept, may have been the most important invention of all time, because it enables so much of what we are accustomed to.

ampersat · 09-28-2008, 08:23 PM

Money, as a concept, eg. fiat currency, was a great idea. It enabled a lot of inflation to occur since they could print as much as they needed when they needed it, further driving down the value.

Look forward to seeing the Amero in your wallet sometime soon.

Silver Hilton · 09-28-2008, 09:40 PM

Quote:

Originally Posted by ampersat

It enabled a lot of inflation to occur since they could print as much as they needed when they needed it, further driving down the value.

Just imagine trying to live without it. Money is really information, about value. When you have inflation, you're getting information about the value of the money itself.

The challenge with money is that it has to be managed, and the manager of the money is in a position to abuse that position of trust. That has happened with many nations, and we are at risk of having it happen to us.

I don't think it's a good time to be holding US currency. I am moving to foreign stocks.

Hogmaster · 09-29-2008, 10:20 AM

Quote:

Originally Posted by Silver Hilton

I don't think it's a good time to be holding US currency. I am moving to foreign stocks.

Hmmm...

Maybe not bank stocks, eh?

http://www.bloomberg.com/apps/news?p...wfmA8&refer=uk

When I watched the What is Money presentation last week, I was struck by a few things:

1) It seems unsustainable based on continued growth in debt outpacing the ability to repay it - fundamental.
2) The suggestion of "interest free through gobernet" is presented as though it could work. The problem I see with that is getting worldwide consensus to do so. Just seems unlikely.
3) Perhaps the tipping point has already occurred. Very few of us can imagine a soup line because of the conveniences of the modern age. But it CAN occur. If enough credit restrictions are put on borrowing money, you will see HUGE amounts of business failures.

Frankly, scary thoughts...

I'll explain what I mean on a different thread as not to hijack this one.