Wednesday, July 27, 2011

What is a dollar? Stefan B.

by Stefan B.

money is not wealth and that wealth is the organized technological capability to protect, nurture, educate, and accommodate the forward days of humans, whereas money is only a medium of exchange and a cash accounting system. Money has become completely monopolized by the supranational-corporation colossi, which inherently as legal abstractions ignore the problem of how to protect and nurture human lives.
R. Buckminster Fuller, Grunch of Giants

It is a simple enough question, but do you know the answer? What is a dollar? If I were to ask you what an automobile is, you could undoubtedly tell me everything that I had ever wanted to know about who makes automobiles, how to get one, the different types that are available, as well as the relative costs, and advantages of each variation of automobile. So suppose that somebody asked you what a dollar is… Aside from the obvious answer that a dollar is a “Federal Reserve Note”, how is it defined? When congressman Dr. Ron Paul recently put this very question of a dollar definition to Ben Bernanke, the chairman of the Federal Reserve, Mr. Bernanke confidently replied, “My definition of the dollar, is what it can buy. Consumers don’t want to buy gold; They want to buy food, and gasoline, and clothes, and all the other things that are in the consumer basket.

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