Editorials & Other Articles

DaveT

(687 posts)

7. A reasonable point

Tue Jan 8, 2013, 04:48 PM

Jan 2013

but perhaps too reasonable for our insane era.

Money is and always has been bullshit. A "medium" of exchange, it has no intrinsic value unless you happen to be stuck in the woods without toilet paper. Money is, by definition, an abstraction and I do not know anybody who really bothers to think through why money spends at the store.

I don't think that rational analysis of income and outgo really applies much any more in this age of Unfinanced Pointless Wars and bankers who send the concept of "collateral" down the memory hole. So a gimmick to trump the other guys' gimmick? I don't see it shaking anyybody's confidence in the value of money.

Who has confidence in anything now?

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Highlight:

NOBEL PRIZE WINNER PAUL KRUGMAN: Obama Must Be Ready To Mint The Trillion Dollar Platinum Coin [View all] grahamhgreen Jan 2013 OP

this makes more sense than borrowing money from the Fed and instantly owing them interest yurbud Jan 2013 #1

Isn't the banking system one of those third rails that send the rich into a homicidal frenzy? yurbud Jan 2013 #2

Why not mint several? We could retire the entire national debt this way. bemildred Jan 2013 #3

I'll take it. grahamhgreen Jan 2013 #4

Why not a thousand billion-dollar coins? Manifestor_of_Light Jan 2013 #5

I think the main objection is that it would MAKE CLEAR that our money is really just bullshit. nt bemildred Jan 2013 #6

A reasonable point DaveT Jan 2013 #7

It's a taboo. I've been chewed our here more than once for bringing it up. bemildred Jan 2013 #8