Conculsion

The Money Truth

Money is how we transfer wealth. Money is social credits; it’s the ability to have credits and debits of other people’s time.

If I do my job right and create value for society, society says, “Oh, thank you. We owe you something in the future for the work that you did. Here’s a little IOU. Let’s call that money.”

That money gets debased because people steal the IOUs; the government prints extra IOUs; and people renege on their IOUs. But money tries to be a reliable IOU from society that you are owed something for something you did in the past.

We transfer these IOUs around; money is how we transfer wealth.