Life ain't a rose garden.
What Makes Money Valuable?
In the United States neither paper currency nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper, deposits merely book entries. Coins do have some intrinsic value as metal, but generally far less than their face value.
What, then, makes these instruments - checks, paper money, and coins - acceptable at face value in payment of all debts and for other monetary uses? Mainly, it is the confidence people have that they will be able to exchange such money for other financial assets and for real goods and services whenever they choose to do so.
Who Creates Money?
Changes in the quantity of money may originate with actions of the Federal Reserve System (the central bank), depository institutions (principally commercial banks), or the public. The major control, however, rests with the central bank.
The actual process of money creation takes place primarily in banks.
Feeling pain is sometimes a necessary evil. Life ain't a rose garden.
As I've been saying:
AUDIT THE FED!
I may not be in the country club, but being a house **** does have it's perks. Easy folks. That's just a way of saying that I may not be "elite" but I certainly don't have alot to complain about as far as necessities and even some pretty cool luxuries. I don't care if others have platinum coated faucets. I like a 20 minute hot shower.
Sad that's not gonna happen.
A fine chardonay from a dixie cup or Boone's farm (circa 2007) straight from the $2.39 bottle? I'll take the dixie cup.My brother-n-law was guitarist for a guy whose a member of the "country club" and did his drinkin' from a Dixie Cup!
A fine chardonay from a dixie cup or Boone's farm (circa 2007) straight from the $2.39 bottle? I'll take the dixie cup.