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The Confidence Game

The Confidence Game

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Published by Phishna
Inflation is really about consciousness. Once the sellers realize that money is being printed in vast amounts, they discount it's value, they demand more money for less goods. Inflation is currency debasement, the hypothetical gold value is being removed from the derived note. But here's the sad fact, the money never had any real value to start with, it was only a derivative, a fiction in your mind.
Inflation is really about consciousness. Once the sellers realize that money is being printed in vast amounts, they discount it's value, they demand more money for less goods. Inflation is currency debasement, the hypothetical gold value is being removed from the derived note. But here's the sad fact, the money never had any real value to start with, it was only a derivative, a fiction in your mind.

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Published by: Phishna on Apr 02, 2009
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05/10/2014

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http://theconfidencegame.blogspot.com/2008/10/all-money-including-gold-is-based-on.html
All money, including gold, is based on confidence
All money is a confidence game, including gold. Unless two parties are bartering, money is required to trade. With barter, both parties examine theitems to be exchanged and not much confidence is required, just a goodinspection of the trade items before acceptance of the transaction. No signedcontracts or paper money are required, just both parties agreeing in their minds that they are satisfied with the trade. (I barter all the time, I prefer it because there is no tax, no banker or state control, and no slave wage labor required.)
Modern money is slowly morphing from paper to plastic to electronic entries, the Statehas a monopoly on the issuance of the currency:
Barter is highly inefficient way to trade and the modern economy couldhardly exist without money, because with money you can trade something between more than two parties, a three way or greater trade. This includestrading your labor for money so that you can buy exactly what you want.Money need not be examined very closely either, just a quick glance at thefamiliar colors and patterns to verify it's authenticity. Think about that for awhile, you wouldn't accept monopoly money for your hard work, would
 
you? Ha ha ha, aha!In order for money to work there must be confidence that the money can betraded again. Nobody really needs money since it is mostly useless, so theonly reason people even accept money is to complete transactions for stuff they actually want. Money is really a confidence game, acceptable money issomething that we collectively agree on. In fact in some transactions wemight give something away and agree to be paid back in an unspecifiedamount for unspecified things so long as we trust the other. I try operatingthis way but my kindness is often met with cynicism and contempt, the other  party mistakes my kindness for weakness. In a perfect world of perfect trustno money is required.So if we had a perfectly spiritual culture, no money would be needed inorder for us to get what we want, we could just have some sort of Akashicaccounting system that we give and take. But we are not perfect or verytrusting, in fact we are mostly agnostic, materialistic, and war like so thatmeans because of devolved state of vice we are forced to use money. Wehoard and worship the stuff, and put it into accounts hoping to get more of itfor doing nothing. Because we are greedy the money becomes unstable andthus we suffer. Now because of our own greed we become easy marks for the moneymasters to exploit. Those who want to control us do so by controlling our emotions, they tapped our egos and have turned us into wage slaves. Wework endlessly to pay down the impossible levels of debt that just keepsaccumulating because our wants are being manipulated by the black art of corporate advertising. At this juncture, the debt fraud has reached insanelevels of non sustainability, we are drowning in debt for all the depreciating junk we bought. Even if we worked until the end of our lives we wouldnever be able to pay off the debts on depreciating stuff of zero value.
 
Serrated edges, an American invention by the wonderful Ben Franklin,gave the coin a distinct feature that prevented the fraud of shaving or clipping of the coin:
When shells and beads were abandoned for gold coins, gold was universallyaccepted because of it's rarity, non corrosiveness, and ease of recognitionand assaying it's true weight. That's why the British currency is still referredto as the Pound, a measure of weight. Money was valued in a convenientunit, a $20 American coin being exactly one ounce on gold.After some time we all know the story well, a warehouse receipt wassubstituted for the gold coin or bar. The note stated that it's purpose as areceipt for the real money:

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