BullionStar News
Writers Torgny Persson, Koos Jansen
& Hong Kang See

The misinterpretation of money

Tuesday the 21st of July 2015
In its simplest form, money is a substitution for barter to make trade more efficient (formally: medium of exchange) but money is also a means for generating production by allowing for saving and investment (store of value) and for accounting and reconciliation (unit of account).

Different economic schools view money differently. Even for the doctrines advocating gold as money in some way, there's vast differences. An example is that followers of the Austrian school of economics propose that gold should be used as money generally whereas Freegolders view fiat money as the natural medium for exchange with gold as a store of value.

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The distribution of money

There is no doubt enough resources for everyone to survive in the world.

Yet the monetary system is causing enormous disruptions. Western countries are debt stricken. Youth unemployment in Greece and Spain stands at about 60 %. Even when the population, like in Greece, gets sick of it all and votes for a new government or debt restructuring, nothing is changed. More credit. More debt. More unsustainability.

A far greater problem, although mostly ignored, is that there's 2,700,000,000 people in the world living on less than 2 dollars/day. More than ... Continue Reading
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