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Why you should tear up your paper money

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07 Jun 2012 21:00 #89258 by chairman
Why you should tear up your paper money



money.msn.com/investment-advice/tear-up-...per-money-jubak.aspx
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07 Jun 2012 21:01 #89259 by chairman
So what is it about money that the leaders of the eurozone don't get?

Money has been around for a while, and it's not terribly complicated.

The key element is trust. That was true when money was a piece of metal that you could bite or bounce. Now that money is just a piece of paper, it's even truer. Today's money is nothing but trust.
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07 Jun 2012 21:51 #89262 by chairman
That's why the euro crisis is so bizarre. The euro is, in theory, one of the world's great currencies. And yet, as this crisis has demonstrated, nobody actually stands behind it. There is no lender of last resort. There is no "full faith and credit." There's nobody on the other end of the promise.
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