Is the money fake and does it represent nothing more than the paper it is written on?

Many accuse our Federal Reserve of issuing money that is not worth the paper it is written on, that it has no value, that it is no longer backed by gold, that it is essentially fake, and that the entire system is a giant scam. However, I say that money is not false because it represents a concept, future work, and that is why it is valued when borrowed so that it exists, that future work is worth something to the people who do the work or to the company doing business to create. products.

Now that doesn’t mean it isn’t abused by the world’s central banks or the government or incestuous and unscrupulous individuals trying to hoard and manipulate it. It does not mean that the greedy who get in the way and divert its flow without working or providing value, just like lawyers or the government, standing in the way of business transactions through fees, taxes, regulations and laws. unjustified, don’t be a problem. for the system. Any type of corruption or inefficiency damages the system in general, but the concept of the money that we use is not false, it represents something very important. And as long as we believe that and have faith in the value of our work or in the things we produce, the monetary system is healthy.

If you want to see the philosophical dark side of the greed and corruption of such a system, there is a great Hollywood movie worth watching: In Time (2011). The IMDb website has the trailer for the movie that you can watch, the synopsis there says:

“In a future where people stop aging at 25 but are designed to live for just one more year, having the means to get out of the situation is an opportunity for immortal youth. Here, Will Salas stands accused of murder and more the race with a hostage, a connection that becomes an important part of the road against the system. “

In fact, I bet you’d like it and it’s a real mental screw and gets to the point of intrinsic value or work-based money. It is a science fiction movie that makes you think.

Of course nowadays we don’t really use a lot of real currency and coins, most of the money is digital, one and zero and is created by pressing a keyboard, unfortunately it can be stolen or hacked as easy as it was created – worried yet? I am to a small degree, I must confess, as there is no question that with the future of Quantum Computing, our digital money, the banking system is at risk of massive collapse, and you mentioned trust, if people don’t trust him. , it has failed and then the whole civilization melts away in about 3-5 days, a couple of weeks at the most, scary stuff.

Taking down the current system to produce a new one will be too much change too fast for human civilizations to survive, everyone loses, no one wins and 3 billion people die, it is not worth the risk of ditching the money just yet. Perhaps in 50-100 years, and certainly not until a proven system is there to take its place. If you ask me, I would say that it would be difficult to convince someone with any leadership skills that now is the time to ditch the money.

First, we have to find a better method, then test it in a small area, and then slowly scale it, unless, start small, show that the model works without external influence, it is not worth the risk. Of course, you demonstrate the concept, you move from there. So does this mean that Blockchain and Bitcoin are our future? I’ll save it for another article, you have enough to think about after reading this one.