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Lapel, In | "Money is confidence - a belief that you can reuse the tool for future purchases"
Like the Continental dollar ? Ever hear the expression," Not worth a Continental damn "? And if the banks take a holiday or the bank president takes a 44 magnum to his head?
What is money? At one time "money" was salt. Something that had a physical use like gold and silver does & will always have.----- "money"???Paper ????----Paper can only be used for a fire if there is no confidence in it. Or it could be used as wall paper like the Continental dollar was sometimes used.
Inflation is when money loses its value relative to anything that has a useable function. Something that paper has very little value of unless you run out of toilet paper.
All the Xs and Os in the world would have had no value in Germany, France, the U.S. and other countries at various times in history. A hamburger would have had more value. People can't eat promises and that is what this economy and the dollar is based on.
Edited by msb 12/24/2007 17:34
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Essential read: London Telegraph
