Is money fake, representing nothing more than the paper it is written on?

Many accuse our Federal Reserve of issuing money that is not worth the paper it is written on, is worthless, is no longer backed by gold, is essentially fake, and the entire system is a giant scam. However, I say that money is not fake because it represents a concept, future work, and that is why it is valued when it is borrowed, that future work is worth something to the people doing the work or the company doing business for to create. products

Now, that does not mean that it is not abused by the Central Banks of the world or by the government or by unscrupulous and incestuous individuals who try to hoard and manipulate it. It does not mean that the greedy who stand in the way and siphon your flow without doing work or providing value, just like the lawyers or the government who stand in the way of business transactions through unwarranted fees, taxes, regulations and laws, they are not a problem. for the system Any type of corruption or inefficiency damages the system in general, but the concept of money that we use is not false, it represents something very important. And as long as we believe that and have faith in the value of our work or the things we produce, the monetary system is healthy.

If you want to see a dark philosophical side to the greed and corruption of said system, there is a great Hollywood movie worth watching: In Time (2011). The IMDb website has the trailer for the movie that you can watch, the synopsis there says:

“In a future where people stop aging at 25 but are designed to live only one more year, having the means to buy your way out of the situation is an opportunity for immortal youth. Here, Will Salas finds himself accused of murder and on the run with a hostage, a connection that becomes an important part of the road against the system.”

In fact, I bet you would and it’s really crazy and it gets to the point of intrinsic value or money based on work. It’s a science fiction movie that makes you think.

Of course today we don’t use real money and coins very much, most money is digital, one and zero and is created by pressing a keyboard, unfortunately it can be stolen or hacked just as easily as it was created – worried yet? I am to a small degree, I must confess, as there is no doubt that with the future of quantum computing, our digital money, the banking system is at risk of massive collapse, and you mentioned trust, if people don’t trust her. , it fails and then the whole civilization collapses in about 3-5 days, a couple of weeks tops, scary stuff.

Tear down the current system to spawn a new one, it will be too much change too fast for human civilizations to survive, everyone loses, no one wins and 3 billion people die, not worth the risk of getting rid of the money yet. Perhaps in 50-100 years, and certainly not until there is a proven system to take its place. If you ask me, I would say that it would be difficult to convince someone with leadership ability that now is the time to get rid of money.

First, we have to find a better method, then test it in a small area, and then slowly scale it up, unless you start small, show that the model works without outside influence, it’s not worth the risk. Of course, proof the concept, go from there. So does this mean that Blockchain and Bitcoin are our future? I’ll save that for another article, you have enough to think about after reading this one.