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Fixing American: The Financial Crisis
I read an interesting article today entitled “All That Money You’ve Lost – Where Did It Go?” The piece had to do with all the imaginary wealth many of us have had in stocks, bonds, real estate or other sectors of what’s commonly known as “investments” the value of which vary from day to day.
The gist of the article was that the expected value we had in those companies or those financial instruments is only in the collective mind of other investors. It’s not really “money” until you sell the investment. The article went on to state that since American – and the world – have gone off the gold standard, even the money we have in our wallets is only worth what those who would accept is believe it to be worth. I have to agree – so far.
Only when money was actually something of actual value – gold or silver most notable – did...
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