Great exploration of what money is and what it requires to remain viable. The piece covers such topics as:
- The original philosophical difference
- Does money need political backing?
- Money as a common good
- Money as an information system
- Differentiating between money and credit
- The costs of money
- The external price for money—or the exchange rate
- Money in a non-democratic society
- The gold standard
From Aristotle v. Plato to Keynes, Marx and even Jesus Christ, they all had much to say about money. What does it mean in our modern society? See the whole piece here entitled: Blind Men Looking At Money
Much thanks to David Hay of Evergreen Capital Management for all the great work he and his team do to put out great financial information every week. Find their archives here: Evergreen’s Virtual Advisor and you can subscribe to their weekly updates here:
Extra Credit: THE LIQUIDATION OF GOVERNMENT DEBT* through financial repression; co-authored by Carmen M. Reinhart, who also co-authored “This Time Is Different: Eight Centuries of Financial Folly”
*Or how to wipe out government debt without having to pay it off in real dollars.