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Thread: What Is Money?

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    Read Ludwig Von Mises Theory of Money and one will understand what money is.

    As to rulers being used as money, that would never work because wood rulers could be made by the bazillions and would soon flood the world and be worthless.

    A dollar is still worth a dollar but it just takes more dollars to buy anything due to inflation of the fiat currency.

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    Quote Originally Posted by Neo View Post
    the more credits you have the easier you have it in life.

    depends on your credits paying the debt you agreed on.
    Donald Trump is the last firewall between us and the cesspool called Washington - James Woods.

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    Money's a pain in the arse.....
    Good journey, Rickity!

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    Quote Originally Posted by Northern Rivers View Post
    Money's a pain in the arse.....
    Albeit a necessary pain in the @ss.

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    Quote Originally Posted by Foghorn View Post
    Money is an instrument by which we measure the values of things.

    Goods, services, stocks, bonds, etc. are all measured by their dollar value. For example, a trip to the grocery store 25 years ago might have cost you $60, but today that same trip cost almost $200. Why is that?

    Here are a few more puzzlers:
    [1]The value of Tesla stock in October was about $300 but today is over $600.
    [2] College education prices have skyrocketed over the past 10 years.
    [3] You can still get a Happy Meal for about 5 bucks, pretty much the same price it was 10 years ago.

    What gives?

    -------

    It's hard to talk about money because it's such a nebulous idea, an idea with different meanings to different people. Over the decades endless arguments among braniac experts regarding money have occurred with no apparent right or wrong answer. Why doesn't one argument win? The arguments always end up in the weeds, bogged down by specific examples used to make this person's point or that. It's a moving target that is slippery as a snake and nearly impossible to get your hands around completely.

    Surely someone somewhere has the right answer.

    Here's an idea: Let's replace the dollar with the lowly wooden ruler. In 1960 that ruler measured 12 inches to the foot, same as it was in 1970, 1980 and on and on through today. It has never changed. We know it works very well for measuring inches so why not use it to measure the value of goods and services as well? It's a rock solid proven winner, it is easy to understand and just as easy to explain to a newbie. How about we give it a shot?

    -------

    On one hand it's not a very practical idea to have to carry around a bunch of rulers in your pocket. But on the other hand think about all the people who would be put of of jobs. The Fed would go away because they would serve no purpose. I guess they could come out once a quarter and announce, "yes, a foot still equals 12 inches, see you in 3 months". Adios mofo.

    Plus, there would be no need for all these "expert" economists, their books and papers, which doesn't really seem like much of a loss since we know for a fact they're wrong more often than right. And all the other currency manipulators that exist in this world would have to find new ways to bamboozle the innocent. We wouldn't have to worry about our rulers measuring 12 inches today, 15 inches tomorrow, and who knows what after that. Our rulers would always measure the same. They are not elastic like rubber.

    Those arguments alone make for a damned good case for the lowly wooden ruler.

    But here's another argument that might be the best of all. It's an argument that affects you and me along with every other average citizen in very real ways, each and every day.

    What if you knew the ruler would still measure 12 inches a year from now, and even ten years from now? How would your life change on a daily basis?

    Stocks are a poor example because their value is manipulated and a lousy measure of the true health of our business at any given time. But yes money is a representative of the value of our labor we are willing to spend for a good or service.

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