posted on Sep, 5 2014 @ 08:13 PM
a reply to: ImaFungi
I'm not talking about it's value to an individual, I'm speaking in much broader terms.
I'm well aware of the value of money to a person, however there is nothing backing our money anymore. Money more or less exists as an abstract
concept at this point.
The part about money not having any value beyond general faith in its acceptability is almost verbatim from my economics textbook circa 1999. My
statement wasn't hyperbole or some kind of detached statement from a rich guy. It's a generally accepted fact. It's not even really disputed.
Regardless of anything else, if no one will accept your money for goods and services it essentially has no value. It's not backed by gold, silver,
In modern society money only has value because we collectively believe it does. It's just paper... on loan from the Federal Reserve with interest.
Even a freshly printed dollar bill already represents debt. What do you think income tax pays for, infrastructure? Roads? Our military? That would be
nice, but truthfully most of what your tax dollars do is pay the interest on the loans from the Federal Reserve......
So again I'm speaking on a macro level, this has nothing to do with individual people earning a wage, and it most certainly has nothing to do with
ability/inability to pay my way through life. There was a point in my life when I was homeless, so anyone even vaguely implying that I am/was a trust
fund kid is pretty insulting.
No hard feelings though dude, if you want to discuss further I'm cool with that.