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Definations of Money

Some Working Definations of Money

A check: This is effectively what we do when we write a check we create a personal bank note. A check is merely a written paper note authorized by your autograph that can be presented to a bank in exchange for  what is accepted as legal tender. 

Legal tender: is whatever the authority, who we all have agreed governs these matters, determines to be acceptable as a means of exchange. For the benefit of everyone in a community, if paper notes are to be freely exchanged one would naturally want some central authority to vouch that these notes in fact really do have redeemable value in a bank.

Fiat money:If those paper notes that are deemed by the State legal tender cannot be exchanged at the bank for real gold or silver for the stated value on it - that money is not backed by anything of substance, it is considered "fiat" money or false money.

Accepting for value:In this second scenario [using Fiate money], the paper has no intrinsic value. The only value it has is the value you perceive or accept it to have and as long as you accept it as having value it will be a means of exchange.

The above for the purposes of this site are working definations. Looking at the defination above [Accepting for Value] here in lies the problem. Perception is a fickle thing - what may be deemed to have value today may be deemed to have very little value tomorrow and that my friend is an insult to human beings. Hopefully by the time you have completed your course here you will intuitively understand that.

Speaking of value - a case in point within recent memory during Bush Jr.'s US presidential term we witnessed how the American Dollar lost 27% of its value against the Canadian dollar in less than 1 year!  in less that one year! in less than one year! in less than 1 year folks!!! Is this an indication of the shape of things to come.

Few realize how severe that erosion of value has been since 1913. Folks we are literally talking pennies - let me repeat it - pennies on the dollar!

By staking our future in paper that represents nothing of redeemable value we are extremely vulnerable but the situation we unwittingly find our selves today is fundamentally unsound as every aspect of our lives since as we shall see it is based almost exclusively on a paper derivative world.

And as we shall find out this is even more serious a situation then I can allud to here.

The good news is there are things we can do to create and protect what wealth we do have but . . .

But before we can do something positive we fundamentally need to understand our predicament. Like a fish in water we are so conditioned to behave in a paper derivative world that it virtually impossible to see our way out of it.

With the information and links in this site you will be able to take the appropriate steps to not only ensure security for ones self but also ones family. How you will be able to do that is not based on what you know - but on how you think.

The book by Napoleon Hill, "Think and Grow Rich" was on the right track but few know that this book for mass consumption is the severely watered down version of "Success in 16 Steps".

Now lets get a sense of what money really is.

Next GO TO: What is Money 

 

 

 

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