What is money? It is an idea backed by confidence. That's all. Meaning
that you know that the piece of paper in your hand has some worth. But
this trust also extends to others, like the the grocer, he knows that
the paper that you're handing over to him has value proportionate to
the goods you're getting. That's all there is to the subject. Others
may say otherwise but that is to justify those years in college
studying a myriad of books that say the same thing in many other
words.
2 comments:
It may be just paper, but I wouldn't mind having a little bit more. At one time the U.S. dollar was backed by gold and silver. Dollar bills even said "Silver Certificate" across the top instead of "Federal Reserve Note" like they do today. I believe the correct term for the dollar today is "fiat money" because it is not backed by anything.
I agree with you and sure wouldn't mind having more of those pieces of paper. I do have confidence that the more I have of it the more I'll be able to get what I want.
Post a Comment