<"Enron, without a considerable amount of physical assets, created a very large market value on its reputation and its conceptual skills," he said. "Reputation is something which, unlike a petrochemical feedstock plant, [can] disappear overnight . . . We are increasingly getting firms which are conceptual, and Enron being a classic case whose value depends on reputation and trust. And if you breach that, that value goes away very rapidly.">
Good quote from Uncle Al Jay. As you say, substitute another asset class with similar characteristics, such as the US$ and it is obvious that the foundations are vital. Breach trust in the US$ and poof.
The Q currency however, represents the productive capacity, energy and intellect and the desire of humans for a comfortable material world and a host of goods and services.
Which do you trust most:
In God We Trust
In Uncle Al We Trust
In the Good Faith and Credit of a bunch of USA Senators
In the Good Faith and Credit of a bunch of USA Congressmen
In the Good Faith and Credit of a Clinton or Bush
In the Aztec medieval world
In the life and times, creativity, energy, needs and desires of 6 billion people.
Mq |
