Can Anyone Actually Tell Me What "MONEY" Is?
Most people spend a good portion of the day either earning Money, spending Money, talking or fighting about Money or like the Governments stealing Money. The banks run the world by lending Money and the global economy depends completely on Money to survive for more than 5 minutes. I have a question I would like to ask, if fiat paper, cryptocurrencies, gold and silver are all currencies that represent Money, but in and of themselves are not Money, what is Money? In my opinion the closest thing I can think of as Money is Silver and Gold, because at least they have some form of inherent value in them, but even they are just pieces of metal!
My question is "WHAT IS THIS MONEY" we spend our entire lives chasing?
Money is some store of wealth that has an INTRINSIC VALUE. Therefore, gold and silver are absolutely the perfect form of money. Meanwhile, fiat is only called currency because it's backed by nothing but the people's confidence in their government. Although it's a simple answer, hope that can answer your question.
Thanks for you response and I agree with what you are saying . Cheers
Money is a claim over resources - whether contractual or implied. I like my gold and silver however in a well run economy / society fiat should work - the problem is the governments and banks print currency diluting the claim over the resources - ultimately ending in failure - my two cents worth anyway Silverbug.
You are dead on sirknight, the ultimate cause of any failing of a currency, is it's controllers, always has. Cheers
In a first world country, there's very little correlation between a growing money supply and inflation. It's disproportionate eg 10% growth in money supply leads to only modest 1-3% inflation. Also banks tend to create more money than the government. I think that's the biggest crime - the banks can create money, yet we have it drummed into us that our governments have to fund spending through borrowing. Mainstream economists are only now starting to admit that banks create money through lending.
Thanks for your response. That 1-3% inflation rate, are you talking about the doctored (official) numbers that the government puts out to keep down their costs? Governments don't create any money, they borrow it or steal it, they create bonds. So yes the banks do create all the money out of thin air. That's my understanding. Cheers and thanks.
Both governments (through their Central Banks) and private banks (through lending) create money. When the Australian government spends, money is created. When it taxes, money is destroyed. The government does not need to issue bonds in order to finance its spending activities.
Re: inflation figures - where exactly have Australia's CPI figures been cooked? There is a lot of valid criticism re: the jobs numbers, but inflation not so much.
Competitive price pressures, an economic crisis and lack of private sector wage growth have led to persistently low inflation in most developed nations. Exception being the UK, where inflation has been picking up substantially on back of aggressive decline in the pound.
Cheers
Silver and gold, are money everything else is just currency. But you are right people chase what they think is money everyday.
How many people do you think actually contemplate the question? Thanks for your response. Cheers
Ah..... about .01%
Well, for thousands of years, a person's wealth was measured in gold and silver, but also other hard assets. Dating back to biblical times, land, sheep, cattle, their crops, and such were also a measure of a man's wealth. And it still is today to the people who understand what wealth is. Do you think Bill Gates and Warren Buffet actually have 80 and 70 billion dollar bills? NO. Their wealth is the ownership of companies, properties that hold value, and among other things, rare art and collectibles. And I'm sure they are smart enough to hold gold and silver as well.
Thanks for responding, yes wealth has had many form for thousands of year, you are right my friend. Cheers
Most definitely gold and silver has been for thousands of years. It's the elite world have us believe different BASTARDS
You are right, that's exactly why the metals are being manipulated on a daily basis. Cheers
You know it keep stacking
It's the purest form my friend.
The lies will end one day
Interesting question of the day,
I see Money as anything that another person and yourself believe has value.
Paper, coin, something with an official mark designating it valuable.
Throughout history, Gold, Silver coins, paper money , digital cards, like credit cards, ALL have something the people believe in and is accepted by others. backed by something your told has value. and always has.
Its as plain as that. Money represents what everyone believes has value, but in reality isn't worth a damn thing.
Example: A natural disaster strikes or war and wipes out the power grid and floods the sewers , no way to provide water, no electricity, no way to get food in or out to the stores, which causes store looting and then shortage of food, now people need medication, water, food, clothing, shelter...would you accept money?
Hell no!, hopefully being prepared, you can barter some water for food or vice versa, or more ammo for protection, or as some are already, be forced , to trade labor or sex for whatever is determined to have value so you can buy your needed commodity, food water liquor wine, whatever! This is happening in war zones now.
Greed is the evil of mankind, and when the people are in need , those who have the means will take advantage of others at any cost so they can live like kings.
And that's why I say Silver and gold, and whatever precious stones that one can decorate themselves and surrounding .
Its a sign of power.
Sorry so long.... Happy Fathers Day to all the Great pops out there!!! And Mothers who are both a Mother and a Father to their children!
Wow @buster544 your response was bigger than my post, a lot to digest, but it does make a lot of sense to me. It's true when you get to the mad max type situation money serves little purpose, it comes down to the bones of existence, what you have and what you know.
Thanks for your effort in response to my question. Cheers my friend.
Gold and silver!
Cheers thanks for that.
I would say gold and silver, and maybe other precious metals. The paper and coin stuff most people call "money" is not actually money but currency and has been this way since 1971 when Nixon removed the "Gold Standard".
That's my understanding.
Thanks for your reply, I also think silver and gold is the ultimate currency in existence. Cheers
I think money itself has no intrinsic value. Money is just a representation for a consensus of value.
I wrote it in my post. A little opinion, please feel free to visit and read :)
https://steemit.com/steem/@ygern/where-is-the-money-on-the-stemmit-platform-actually-from-let-me-try-to-answer-this-question
Thanks for your response, and I do agree with you. I will be checking out your post. Thanks for that. Cheers
Money will always be gold and silver.
But, specifically .999 precious metals excluding palladium.
Thanks for the post.
Yes I agree that the closest thing to true money is silver and gold, but you wouldn't think so at the moment. Cheers