Anonymous, the most prolific writer in history, has visited my blog and left a question:
But the definition of wealth is what range of goods and services is accessible to how wide a range of demographics with their own money. Weal, the root, means common good, well-being, prosperity, and wealth being the state thereof, and commonwealth is a group sharing in that.
And as I have pointed out elsewhere, the root of the word prosperity is "spe" or hope. Prosperity is not what you have, but that your hopes can be met.
Have metals entered into the discussion yet?
Money, those metals, are a medium of exchange and a store of value. No mention of wealth in that definition. Your wealth is the degree to which you contribute to the commonwealth. You wealth is your contribution along with all of the others which collectively creates wealth. The paradox is no wealth for you if you do not contribute, your claim on wealth is the degree to which you have built up the means of production to serve others. The irony is you can live off others if you do not contribute.
The idea that wealth is what you can stash away for a rainy day has been odious throughout history. Today it is celebrated, and a key element of all celebrities is they are rich in the sense of metal stored away, and contribute little if anything.
That money is a medium of exchange is only in the service of exchange, that is facilitating the commonwealth and prosperity (and the peace that attends the provisions against want.) That it is a store of value is a consequence of the medium of exchange coming from a commodity, and necessary for those who need to store up money to meet the EOM commitments.
No where is money to be used for anything else, or something absurd, like retirement, an idea some cracker named Otto came up with as a solution to too many old people. This idea, like police departments, is about 150 years old and utterly destructive. As long as a person is alive, he has something valuable to contribute. Anyone who insists he is no longer necessary, and may retire, may find his argument convincing to people who want to eliminate the cost of paying for the retirement.
But that is just for the future.
So wealth by definition is not metal in a safety deposit box, but a pizza oven or a laboratory putting out bacteriophages, or clinic on a corner that cleans teeth. Money is necessary to these people as a medium of exchange, and since they need to hold on to it for EOM needs it also works as a store of value, but its purpose is in serving the commonwealth, not to escape responsibility for participating in the commonwealth. Once you imagine money is wealth then you have deluded yourself and denied yourself the good of contributing to true wealth.
Take those metals and start a business. Consider your retirement plan an event where you grab your chest, gurgle, and drop dead mid-sentence while making a sale. "Tag 'em and drag 'em."
To consider money as wealth is to invite very unhappy results.
Feel free to forward this by email to three of your friends.
Is it best to hold our wealth in metals (gold or silver) then?And a trick question at that. "Is it best to hold our wealth in metals...?"
We live in an imperfect world, but what is the best currency then to store some wealth in? Hong Kong dollar?
But the definition of wealth is what range of goods and services is accessible to how wide a range of demographics with their own money. Weal, the root, means common good, well-being, prosperity, and wealth being the state thereof, and commonwealth is a group sharing in that.
And as I have pointed out elsewhere, the root of the word prosperity is "spe" or hope. Prosperity is not what you have, but that your hopes can be met.
Have metals entered into the discussion yet?
Money, those metals, are a medium of exchange and a store of value. No mention of wealth in that definition. Your wealth is the degree to which you contribute to the commonwealth. You wealth is your contribution along with all of the others which collectively creates wealth. The paradox is no wealth for you if you do not contribute, your claim on wealth is the degree to which you have built up the means of production to serve others. The irony is you can live off others if you do not contribute.
The idea that wealth is what you can stash away for a rainy day has been odious throughout history. Today it is celebrated, and a key element of all celebrities is they are rich in the sense of metal stored away, and contribute little if anything.
That money is a medium of exchange is only in the service of exchange, that is facilitating the commonwealth and prosperity (and the peace that attends the provisions against want.) That it is a store of value is a consequence of the medium of exchange coming from a commodity, and necessary for those who need to store up money to meet the EOM commitments.
No where is money to be used for anything else, or something absurd, like retirement, an idea some cracker named Otto came up with as a solution to too many old people. This idea, like police departments, is about 150 years old and utterly destructive. As long as a person is alive, he has something valuable to contribute. Anyone who insists he is no longer necessary, and may retire, may find his argument convincing to people who want to eliminate the cost of paying for the retirement.
But that is just for the future.
So wealth by definition is not metal in a safety deposit box, but a pizza oven or a laboratory putting out bacteriophages, or clinic on a corner that cleans teeth. Money is necessary to these people as a medium of exchange, and since they need to hold on to it for EOM needs it also works as a store of value, but its purpose is in serving the commonwealth, not to escape responsibility for participating in the commonwealth. Once you imagine money is wealth then you have deluded yourself and denied yourself the good of contributing to true wealth.
Take those metals and start a business. Consider your retirement plan an event where you grab your chest, gurgle, and drop dead mid-sentence while making a sale. "Tag 'em and drag 'em."
To consider money as wealth is to invite very unhappy results.
Feel free to forward this by email to three of your friends.
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