Is money counterfeit that is nothing but the paper on which it is written?

Many accuse our Federal Reserve of issuing money that is not worth the paper on which it is written that it has no value, that it is no longer backed by gold – that it is, in fact, a forgery, and the whole system is a giant scam. However, I say that money is not counterfeit because it is a concept – Future work – and so it is valued when it is borrowed into existence that future work is worth something to the people who do the work, or the company that does the business to create products.

Now this does not mean that it is not abused by central banks around the world or the government or incestuous and unscrupulous individuals who try to accumulate and manipulate them. This is not to say that greedy people who hinder and pump its flow without doing work and providing value, like lawyers or government who hinder business transactions through unjustified fees, taxes, rules and laws, are not a problem for the system. Any corruption or inefficiency harms the system as a whole, but the concept of money we use is not fake, it is something very important. And as long as we believe in it and believe in the value of our work or the things we produce, the monetary system is healthy.

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

“In the future, where people will stop growing old at the age of 25, but have decided to live only one more year, having the means to buy a way out of the situation is a shot at immortal youth. Here Will Salas is accused of murder and beyond. hostage-taking is a bond that is becoming an important part of the path against the system. ”

In fact, I bet you would, and it’s a real screw of mind and comes to the point of intrinsic value or money based on work. This is a science fiction film that makes you think.

Of course, today we don’t use a lot of actual currency and coins, most money is digital, ones and zeros, and is created by pressing a keyboard, unfortunately they can be stolen or hacked just as easily as they were created – worry yet? I have to admit a little bit, because there is no doubt that with the future of quantum computing our digital money, the banking system is in danger of mass collapse – and you mentioned trust, if people don’t trust it, it doesn’t work, and then the whole civilization melts about 3-5 days, a maximum of a couple of weeks – a terrible thing.

The destruction of the current system to create a new one will be too rapid a change for human civilizations to survive, all lose, no one wins and 3 billion people die, which is not worth the risk of losing money. Probably in 50-100 years, and certainly not until a proven system appears in its place. If you ask me, I would say that it would be difficult to convince anyone of any managerial quality that now is the time to get rid of money.

We must first find a better method, then test it on a small area, and then slowly increase the scale – if you do not start small, do not demonstrate a model that works without outside influence, do not take risks. Of course, you prove the concept, from there you move forward. So does this mean that Blockchain and Bitcoin are our future? I will save this for another article, you will have enough to think about after reading this.