Hobbit@Law

Looking carefully at that which is unseen.

Category Archives: Quoted for Thought

Quoted for Thought: More on money

A second thing to note about modern monetary systems is that the market value of these exchangeable monetary points lies, for all of their users, purely in their exchange value. That is, the only value that attaches to the acquisition and possession of money comes from the knowledge that money can be exchanged for other things. It is true that people also seek to acquire money as a “store of value” that they save for indefinite periods and have no definite plans to spend. But the only reason one can be successful in storing value when one saves money is that other things continue to happen out in society that preserve the use of that money as a medium of exchange. If at any time people became unwilling to accept that form of money in exchange, the saver would no longer be storing value when they saved their money, but valueless points on a meaningless scorecard.

Taken from here. Long article, worth looking at. And likely the rest of the series is as well.

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Q4T: Givers and getters

Quoted for thought: The folks who are getting free stuff don’t like the folks who are paying for the free stuff, because the folks who are paying for the free stuff can no longer afford to pay for both the free stuff and their own stuff. The folks who are paying for the free stuff want the free stuff to stop, because they can no longer afford to pay for all the free stuff and their own stuff. But the folks who are getting the free stuff want even more free stuff on top of the free stuff they’re already getting! Next, the people who are forcing the people who pay for the free stuff to pay for the free stuff, and who use the free stuff to buy the support of the people getting the free stuff, have also been telling the people who are getting the free stuff that the people who are paying for the free stuff are being mean, prejudiced, and racist because they don’t want to keep paying for ever growing amounts of free stuff to give to the people getting the free stuff so that the people forcing people to pay for free stuff can keep having the support of the people who are getting the free stuff. As a result, the people who are getting the free stuff are now convinced that they need to hate the people who are paying for the free stuff, rather than be grateful, and that they need to keep supporting the people who are forcing the mean, prejudiced, and racist people who are paying for the free stuff, so that the people who are forcing the people to pay for the free stuff can continue giving them the free stuff that the mean, prejudiced, and racist people are paying for.