The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (28082)	3/11/2005 8:55:24 PM
From: Elroy Jetson	Read Replies (1) of 306849

When you construct an economic system where money can be used to store wealth, you have the basis for capitalism, economic growth, and prosperity. John Law argues that money is not a method to store wealth. This always disintegrates into a hot potato system of barter. "Money is not the value for which goods are exchanged, but the value by which they are exchanged. The use of money is to buy goods and precious metals while money is of no other use." John Law -- "Lettre sur le Nouveau Système des Finances, 1720" Like John Law, many people in their conceit imagine startling new systems - full of imagined efficiency and wealth creation - based on constructing money merely a means of exchange. In time, these systems always fail. It is one of those cold hard facts of the world we inhabit. .

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