Posted On: 03/18/2015 12:37:36 PM
Post# of 43066
"Agreed, fiat currency is mostly worthless."
No question. Its value is other's willingness to accept it. My philosophy is that stocks are actually a safer long-term investment than money--at least companies (usually) produce value. Yes that's a dig at PTOI but I'm serious overall.
Regarding fiat, the Yap Islands had up to 10' high large carved stone discs which they used as money for centuries--they never physically moved the stone discs but just kept a mental record of who owned which 'coin'. The story goes that one stone coin carved at the source on another island capsized on the raft during transport back to Yap Island. The workers attested to its existence and that stone disc traded like all the others...even though it was at the bottom of the ocean. That's about as abstract as fiat money can be.
No question. Its value is other's willingness to accept it. My philosophy is that stocks are actually a safer long-term investment than money--at least companies (usually) produce value. Yes that's a dig at PTOI but I'm serious overall.
Regarding fiat, the Yap Islands had up to 10' high large carved stone discs which they used as money for centuries--they never physically moved the stone discs but just kept a mental record of who owned which 'coin'. The story goes that one stone coin carved at the source on another island capsized on the raft during transport back to Yap Island. The workers attested to its existence and that stone disc traded like all the others...even though it was at the bottom of the ocean. That's about as abstract as fiat money can be.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
