Money Doesn't Exist
There is no physical money. It’s a mental construct, a controlled hallucination shared by almost the entire population of the globe. There’s no physical object which, by itself, can have an intrinsic, exchangeable value. Even if we can identify “precious” metals like gold, or coins, or notes, bonds or company shares as physical objects which are carrying a certain value, there’s no intrinsic value of them.
For many of the readers of this posts series (yes, I’m writing a posts series) this may seem like a delusional claim. “Of course there is physical money, I just paid my rent with it!” Oh well, what you did looked like and exchange of real, “physical” money for some service, but what happened was really something else.
It was a transfer of trust.
The posts you’re about to read will try to demystify the mainstream perception of money. Because, like it or not, money, as we know it, is just a myth.
Myth – noun
There are 4 possible meanings for the word “myth” in the Merriam Webster dictionary. The 2nd and the 3rd are the most relevant for our case. Here they are:
2 – a) a popular belief or tradition that has grown up around something or someone – especially one embodying the ideals and institutions of a society or segment of society
2 – b) an unfounded or false notion
3 – a person or thing having only an imaginary or unverifiable existence
We will certainly get back to these definitions at various points in this book, but for now let’s write down some key words:
- popular belief
- unfounded or false
- imaginary or unverifiable existence.
So, if money is not physical, what is it then?
Stick with me, we’ll all find out in the next post of the series.
Initially published on DragosRoua.com.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
|
I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
@dragosroua,
We all need money to live a good life! But that doesn't mean we should believe it! Specially fiat, I don't even know what's the current market supply of fiat currency belongs to my country! But I know the extract figure in crypto!
Cheers~
This is so true
Intrinsic value is is an erroneous concept like ether in physics, and we need to get rid of it. Still, money do exist.
I completely agree with the "ether" part.
To a certain degree, I also agree with "money do exist" and that degree is: "dreams do exist as well".
True, one can scan persons dreaming brain and see dreaming activity on the computer screen :) When my dog dreams chasing a sheep its not a real chase, but at the same time dream is real and has a physical footprint.
🏆 Hi @dragosroua! You have received 0.5 STEEM reward for this post from the following subscribers: @cardboard
Subscribe and increase the reward for @dragosroua :) | For investors.
There’s no physical object which, by itself, can have an intrinsic, exchangeable value. - all of food.
I disagree :)
What's food for me may not be food for you: if I'm vegetarian, then the beef you're eating has no intrinsic value for me.
It only has value if I can trust it to feed me - under my own terms of what food means.
Exchangable and widely accepted as exchangable is difference. Everything is excvhangable under right conditions. Almost nothing is universaly exchangable.
I'm not talking about exchangeable here, that's a different characteristic of money, I'm talking simply about value. My point is that value is a byproduct of trust, overwhelmingly.
Well, you are in that sentance.
Food, as an exchangeable value, has wildly varying value.
If the person is dying of hunger, that food is extremely valuable.
If the person just ate a seven course meal, you might not be able to give away the food.
And this is even more apparent on a macro scale.
Where, in modern times, mountains of wheat rot.
But, during the potatoe famine, there wasn't enough good potatoes at any price.
Nothing in this plane is real, everything is a product of the notion and based on the collective. Money, although necessary, does not escape reality and now.
Really an interesting topic because money is just any medium to settle debt , by who h all parties involved are satisfied
The problem with money, paper or electronic, is they are not backed by anything. We choose to put our trust in something that continuously creates more debt than it is solvable to pay for.
Posted using Steeve, an AI-powered Steem interface
I get it and look forward to reading your further posts. My favourite example of this trust was an archaic form of trust, that was a stick with lines cut into it, known as a 'tally stick'. This was a credit/favour system in medieval Europe.
Money is undoubtedly that imaginary account in a bank that is necessary in a real world.