Posts

Showing posts from July, 2020

TRUST, MONEY AND WEALTH

Trust is a firm belief, that an individual has, in the reliability, truth or ability of someone or something other than themselves. Trust between members of a community is the glue that binds them into a successfully functioning whole and trusting money is a very important part of that glue. What is money and how can we trust it. A DEFINITION OF MONEY Money is the visible, socially approved, by at least three individuals, of their individual concepts of value when the concepts are - quantified - equal and - attached to two different exchangeable items. What is value? A DEFINITION VALUE Value is the quantified ranking of the desirability, in the present moment, of something when it is compared to the desirability of every thing else. From the above definition we can see that value accorded to something by an individual can be variable over time. A snapshot, in time, of value, is given however when a voluntary exchange, between two individuals, of g