

A brief, frivolous, but fairly accurate history of Money - lackbeard
http://lupoleboucher.livejournal.com/76418.html

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dpatru
> Money "going away" isn't necessarily a bad thing. Sometimes it serves a
> useful purpose. For one thing, when someone's money goes away, they tend to
> go out and do more work, creating actual wealth in the form of economic
> output, rather than parasitically living off of accumulated money. Inflation
> is a form of money "going away." High interest rates are another form of it.
> One of the reasons interest rates are at a historical low, is the minting of
> credit money by banks like Bear Stearns. So, you can think of the choice as
> shifting the price of volatility (or risk; yes, risk costs money -think
> about it for a minute) from interest rates to banks. This sucks for guys who
> work for the banks (me) which have to manage this risk, but otherwise, a
> pretty good deal. Just like in the old days, the minting of credit money was
> a choice between not having an economy based on money, and worrying that you
> might wake up with worthless money.

Unless you're a banker or a government official, it's hard to agree with the
writer that working hard in return for worthless paper is "not necessarily a
bad thing" or that working hard and saving money in hopes of acquiring
financial independence is "parasitically living off the accumulated money."

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josefresco
From the comments: "Privacy is overrated. Most people who worry about privacy
are compulsive masturbators who smoke too much dope. The rest are pedophiles."

Smart guy, maybe he can tour with Bush/Cheney on the speech circuit.

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zenspider
do not feed the narcissist.

