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| Authored by: Anonymous on Wednesday, October 10 2012 @ 04:59 PM EDT |
If that is true there would be exactly as much numerical
value
in coin and notes as there is 'value' in the various bank
accounts in the world. Money has different FUNCTIONS(!) and
there are many different forms of money that will perform
those
functions.
A minor, trivial example is that stamps are (were?) 'legal
tender' in the UK but too many coins of different
denominations
over a certain value are not (so stops being money?)! Would
you
count a Certificate of Deposit as money or a donkey taken in
exchange or barter for food - is the donkey the 'money' or
is
the food? If you believe such things will retain a portion
of
their 'value' or, even increase it - does that make it
worse,
equal or better than "money"?[ Reply to This | Parent | # ]
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| Authored by: Anonymous on Thursday, October 11 2012 @ 02:27 AM EDT |
Except that the physical cash is really no
different to the virtual money in your bank
account. The value it has is an abstract
concept also. The only reason cash has
value is because the government says so
and everyone else believes them.
Leigh.[ Reply to This | Parent | # ]
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