Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (5064)	6/17/2001 6:10:00 PM
From: Stock Farmer	Read Replies (1) of 74559

M, I find your perspective perplexing. "I don't want to own money...." This thing you call "Money" is merely a store of value. You can replace your $NZ with your trust in God or with your trust in Cisco or the CEO of Q... or The Rock... Doesn't matter. You own money. And yes you want to. Because otherwise one day when your capacity to consume overtakes your capacity to produce then you will either begin to suffer and starve, or you will exist as a parasite on some nation state somewhere. And such a day is likely to come. Just because it happens to be stored in the vaults of a memory chip somewhere doesn't at all diminish the fact that you have accumulated stored value. Money. An intermediate medium of exchange that serves a useful purpose in the exchange of goods we call "commerce". How many oranges is a supertanker worth anyway? And can you consume those oranges before they rot? Money is merely a store of value. You can choose whatever store of value you'd like. Hopefully it will be liquid, fungible, easy to transport and widely recognized beyond the borders of your village. But don't kid yourself that it will be safe from "dilution". I don't know whether you've checked the number of Cisco or Q or INTC or... share certificates outstanding, but they have been nicely diluted. Extrapolate over the next 100 years and perhaps you will see how adult these children who guide our treasuries really are. And forget numerical dilution. You can buy a lot fewer oranges or supertankers or whatever for the same number of XYZ shares today than you could this time last year. Fill in the blank for XYZ. It could be bills or electrons or precisely smushed small pieces of metal alloy. Or maybe seashells or beads or even the fossilized doo-doo of some long extinct bird. But you want it! You want money! John

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