Tuesday No, this is probably not going to go where you think. I covered what money is in Dawn of Gold; this is about something else. In this instance, the two different types of money referred to are accumulations and income. Income refers to the money that comes in from either your investments or your work. It’s also known as cash flow. Never live … [Read more...]
From Tribes to Societies and Back Again
Thursday In Dawn of Gold, I pointed out the hitherto unremarked fact that all human groupings are brought about by the need to exchange – whether of sperm/egg cells, goods, services, companionship, hunting skills etc. All congregations, both large and small, are a demonstration of this phenomenon. Without this need to exchange, tribes would never have formed. … [Read more...]
With What is Value Measured?
Monday With regard to the quantification of a good’s value, with what is it measured? How is the subjective value of a good expressed? Well, with money of course; one of the jobs of money in the marketplace is to measure value. For most of the 20th century and at the beginning of the 21st century, the marketplace has used fiat debt notes, otherwise known … [Read more...]
Money is Not a Good
Thursday “For example, money is not consumed after a transaction, but goods such as pork bellies and copper ingots are. Money is not directly comparable to goods.” Keith Weiner One of the tenets of Dawn of Gold is that goods* and money** are different. Money is not the most marketable good. Money is not, never was and cannot be a good. Prior to 1500BC, … [Read more...]
Wednesday “Time-preference is simply the desire to own goods at an earlier date rather than later.” (here) I come across this regularly, and it is important to understand that this is just an observation that is sometimes true, but, equally as often, is not. Imagine receiving a crane delivery of a roof for a house before the walls are constructed. What would … [Read more...]