Money Is An Illusion...

Discussion in 'Economics' started by TraderTactics, Apr 13, 2010.

  1. The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.

    What began as a routine report before the Senate Finance Committee Tuesday ended with Bernanke passionately disavowing the entire concept of currency, and negating in an instant the very foundation of the world's largest economy.

    "Though raising interest rates is unlikely at the moment, the Fed will of course act appropriately if we…if we…" said Bernanke, who then paused for a moment, looked down at his prepared statement, and shook his head in utter disbelief. "You know what? It doesn't matter. None of this—this so-called 'money'—really matters at all."

    "It's just an illusion," a wide-eyed Bernanke added as he removed bills from his wallet and slowly spread them out before him. "Just look at it: Meaningless pieces of paper with numbers printed on them. Worthless."

    According to witnesses, Finance Committee members sat in thunderstruck silence for several moments until Sen. Orrin Hatch (R-UT) finally shouted out, "Oh my God, he's right. It's all a mirage. All of it—the money, our whole economy—it's all a lie!" [full story]
  2. afto


    The really funny thing is that there is more than a grain of truth in that story.
    The US currency is based on nothing more tangible than faith (pieces of paper imprinted with "In God we trust").
  3. not true, U.S currency is based on it's ability to militarily dominate and politically control the rest of the world. The dollar is a representation not of American economic output, but of all the output they politically and militarily dominate.

    170 U.S bases world wide and counting

    next on the list Africa
  4. All money is faith. Hell, even gold is faith. Value is faith. That you're likely to get X for Y is all based on faith.
  5. God gave us real money. Its called gold. We can only pull about 2% more out of the ground every year than we already have. Coincidently, we pull as much gold out of the ground as the population grows every year. Another sign that we should use gold as money.
  6. Or potatoes. I can pull those out of the ground and they have more intrinsic value. :D
  7. afto


    Yep but if I found myself in some third world country, hungry, thirsty and wanting to go home then I'd sooner have a fistful of dollars in my backpocket than gold or silver.

  8. that will change.
  9. If Hitler had a few thousand of these in 1944, we'll all be dead or singing German drinking songs and spending Reichsmarks or Deutchmarks. So it is more than just faith behind the dollar.

    Therefore the lession is, Obama, don't bargain every last nukes away!

  10. olias


    What makes gold any more 'real' than paper? I can think of 100 practical uses for a dollar bill that I can't do with gold. What real value does gold have?
    #10     Apr 13, 2010