People think money is real, mysterious and valuable. They still think gold is involved in the process. It’s actually nothing like that. It’s nothing more than numbers on bank statements. youtu.be/H-s-oz_xUUE?... - ThreadSky

richardjmurphy.bsky.social • 3 days ago

People think money is real, mysterious and valuable. They still think gold is involved in the process. It’s actually nothing like that. It’s nothing more than numbers on bank statements.

https://youtu.be/H-s-oz_xUUE?si=n1FqbKxBtQ4fF1aF

Comments

babylonlee.bsky.social•3 days ago

a good first step, when you realize the value of gold is also made up you start to really understand.

kuyvonbraun.bsky.social•3 days ago

Which is why we need a complete rethink of our economic paradigm, fundamentally change the relationship between capital & citizens.

But, er, instead we’re getting a theme park in Bedford 🤪🇬🇧

argojason.bsky.social•3 days ago

I wish people would remember that when they talk about “Musk losing Billions”!!

snial.bsky.social•3 days ago

Great video and particularly fantastic at 2:24, because I have exactly that model of Macintosh keyboard, for my (now aging) Mac mini 2012! (though I'm typing this on my MacBook Air M2).

3k0bolds.bsky.social•3 days ago

Because it's just shorthand for the exchange of goods and services.

cognitivedis.bsky.social•3 days ago

Agreed, Real Dictionary #3 (Money) - Money is simply a human construct that in practice allows a tiny minority to own and control the vast majority of the world's 'actual' resources (Land, Water, Human Labour).

squichmitch.bsky.social•3 days ago

The billionaires are only that because we believe in their bank numbers. We have to so that our bank numbers are real

carl-bond.com•3 days ago

If money is made up, value is made up.

See my pinned skeet or my #SteealMyIdea skeet for your OWN value!

Come on people. Let's put these billionaires in their place.

THEY ARE IRRELEVANT.

beakflip.bsky.social•3 days ago

Value is subjective, but not made up. Even monkeys understand the value of a trade (I mean that literally, not as an insult). It's a basic instinct observable across many species.

sixesalltheway.bsky.social•3 days ago

The resistance to this very simple notion rarely fails to surprise me. Trying to explain this to others I encounter the same old tired arguments: 'it's just printing money and that makes inflation - look at Germany in the 20s'

Sisyphus had it easy.

mogo-uk.bsky.social•3 days ago

Fascinating, thank you.

mogo-uk.bsky.social•3 days ago

It’s ones and zeros, banks create it every time they sanction a loan. It’s quite scary quite how detached the notion of banks having to hold enough to pay it out, if a run on the bank occurred, it’s a complete fallacy.

beakflip.bsky.social•3 days ago

Money is made up, but I'd say that it is real. I just exited a store where the clerk gave me stuff and I gave him money.

And the reason both me and the clerk will happily exchange money is because we trust that money is more than just banks writing numbers on ledgers as they please.

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