Originally Posted by Shpongle
Money is most certainly tangible and is
Monies? How does it work? Also I know your name
Money is supposed to represent proof of work or labor, or gold, all of which have no intrinsic value except what people will pay for them. The only reason gold is used is because it is very stable and always has value. It probably has something to do with women liking gold
, because men will always trade women gold for...... wait im gonna get banned arent I............ ok back on topic...
Anyway money is a basically a part of the social contract which allows us to trade. Bartering is flawed in that there other party does not always have what you need, goods can spoil or die or decrease in value, but with money you essentially have a machine that can transform any one thing into another thing. You have a billion oranges? Well you can turn that into a hot rod. Because people accept the money as proof of work, goods, or services it hold value. The dollar is just a piece of paper. Imagine how hard it would be to find someone who wants a billion oranges, and then find someone who wants to trade your for a hotrod, not gonna happen.
Originally Posted by linkdiablo
If money is material and tangible every entity on the planet should be able to withdraw the full worth of their bank account simultaneously.
Money USED to be material and tangible, but that was before banks came in the picture.
Money has never been tangible. Just because you use gold doesn't mean gold is worth something. Gold is only valued because people put value on it. Just like the Native Americans used Wompom which were seashells as currency, we use the dollar which is paper, and other people use coins of various metals. The nickel is the only coin close to its value anymore I believe, but I could be wrong. If you invest in nickles and the US govt flops you could melt the nickels down into bars and they would hold their value as a metal. Having an item such as gold is different in that its not tied to ONE countries currency (as are all commodities) and if one country fails gold will still have value in other countries (assuming global collapse didn't happen). its not that gold itself has some sort of mystical value, its that humans put value on it.Edited by Ploppytheman - 8/21/12 at 5:13pm