How to know if money is real

Discussion in 'Trading' started by Lucias, Dec 7, 2011.

  1. Or an quote from Ayn Rand might answer the question much more concisely.

    "Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion--when you see that in order to produce, you need to obtain permission from men who produce nothing--when you see that money is flowing to those who deal, not in goods, but in favors--when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed."

    "Trading on margin is a good deal like paddling around the edge of the old swimming hole—it seems safe and easy at first, but before a fellow knows it he has stepped off the edge into deep water. The wheat pit is only thirty feet across, but it reaches clear down to Hell. And trading on margin means trading on the ragged edge of nothing. When a man buys, he’s buying something that the other fellow hasn’t got. When a man sells, he’s selling something that he hasn’t got. "

    From Letters from a Self-Made Merchant to His Son by George Horace Lorimer
     
    #11     Jan 30, 2012
  2. hkrahra

    hkrahra

    How to know if money is real?

    To go to the store with them
     
    #12     Jan 30, 2012
  3. Mav88

    Mav88

    You mean if the crackwhore accepts payment?

    I can tell you how the government handles electronic cash. It is simply a legal arrangement among congress, the treasury, and various agencies. The agencies are given a number, their spending limit, and then a particular person at an agency who been given a special warrent to issue checks or electronic payments will spend the money as the agency directs until it is gone. If the check writer spends too much- they can go to jail.
     
    #13     Jan 30, 2012
  4. if it's not gold or silver. it's not money.
     
    #14     Jan 30, 2012
  5. tobbe

    tobbe

    Ok now I have green tea spluttered all over my monitors. Thank you for a good laugh :p .

    BRL. Pffffftttt.
     
    #15     Jan 31, 2012
  6. noddyboy

    noddyboy

    I think the question is more like -- if you buy a stock, you can demand a certificate with a serial number and know you own x% of a company, and you can check that the company exist and have offices. If you have $1 in your bank, what do you own? Sure you can withdraw it and get a bill with a serial number, but what if you don't? Most people don't withdraw which is a problem when it is too late to withdraw.
     
    #16     Jan 31, 2012
  7. Lucias... I've never seen your name next to a one star thread before...:eek:
     
    #17     Jan 31, 2012
  8. This thread reminds me of an FBI buddy. After a HUGE drug bust, he and 5 other FBI/DEA guys had to count 2.5 Million in 5's 10's and 20's in the locked down parking garage of a big bank.
    Took them 10 hrs, cuz they had to do it twice, AND confirm each bill was NOT counterfeit. LOL
     
    #18     Jan 31, 2012
  9. Money is just as made up as anything that humans make. It's just as real as anything made up by humans, like numbers, planes, doctors, and playgrounds. Humans assign values which they make up based on a general consensus of what the value should be.

    Any kind of money is just like a market price, made up by the participants. Outside the participants it means nothing. If everyone participates (as in the case of money), then it's as 'real' as real can be.
     
    #19     Jan 31, 2012
  10. real $ is stored in your bedroom, linen closets and suitcases.

    all the rest is just digital.

    $200M et al.

    when you have this much, pack some heat.

    s
     
    #20     Jan 31, 2012