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  1. #1
    Join Date
    Apr 2005
    Posts
    2,701

    Default Sleeping money, Walking money and Lightning Money question.

    So how fast should money move?

    The twenty cent coin I found while trimming an overgrown hedge had probably been missing in action for a bit too long - judging by the date and tarnish on it.

    The fifty dollar notes in my pocket, kept me company for about four days, until finally being dwindled down by the need for petrol and food and so on. it served me and the shops I walked past well.

    The hundreds of electronic dollars that flashed lightening like from my bank account as I pressed the enter button on my phone, well they never even bothered to say hello or goodbye. I'm not sure now if they were even ever mine, or ever existed.
    Maybe they were just a story.

    The funny thing about my walking money..
    when I spent it, I walked past other goods, that I became interested in.
    I used my car, and petrol and drivers licence, and needed presentable pants with pockets.
    I got to look at for sale signs on buildings and see how happy (or unhappy) people were on the streets.

    And the chilling thought struck me.
    Will lightning money ..or cyber money to be more accurate ..loose touch with and sabotage the real world?

    Could it possibly be more problematic than going away from the gold standard in that way?

    And like the teenager spending hours locked in his or her room (playing a video games hour after hour), does money need to be in the real world regularly to be healthy?

    Thoughts?
    Last edited by McDuck; 25-07-2017 at 08:38 AM.

  2. #2

    Default

    A stick split in two used to count as money and its speed was determined by how fast the holder could exchange it.
    These days speed of money is only limited by the speed of light and this is where its speed is heading.

    This first part of this video https://www.youtube.com/watch?v=V43a-KxLFcg
    has some interesting speed comparisons produced by New Zealand physicist Sean Gourley.

    McDuck, there are some good documentaries on high frequency finance produced VPRO the Dutch documentary producer.
    https://www.youtube.com/watch?v=kFQJNeQDDHA


    Fortunately, property has a much slower pace.

  3. #3

    Default

    Well, are the assumptions right?
    If you take a gold coin, I would go along with “walking money”. The speed of a gold coin is limited by the exchange between “giver and taker”.

    In these days as somebody wrote “The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented.” In other word, there is no deposited money (as it was in the old days) held by the bank. If you take a Dollar, that is a currency (not money), in the past exchangeable for money, but that has also changed in 1971 when President Nixon took the US off the gold standard.

    A currency itself is worthless as the entire financial system is reliant upon people’s belief (or call it faith) in the value of the currency. Banknotes are printed currencies - bank’s “promise” to pay you owned money that works like a credit system. Few notes are actually printed and in circulation, more than 90% of all understood “money” is not and is virtual (created by debts) and the currency in circulation are interest payments on these debts.

    The entire automation (computerization) of the financial market and the exchange of currencies with the speed of light as business model - virtually to rip off labourer (exchange labour for food and shelter).

    And the government’s deficits are covered by inflation (printing more notes of their debts) a tax to keep the virtual financial exchanges (business) model floating by the speed of light for people who use fibre-speed Internet.


 

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