What we see happening here is we create a certain amount of currency, or purchasing power, and we then take that purchasing power, which is a debt, and give it to someone else for their product or service; so now we owe the bank the amount we just spent, plus interest, and on top of that, we just gave the grocery store pieces of paper that literally say, “I’ll pay for my bill later.”
Tag: fiat currency
What is Money???
Everything in the value of a product or service hinges on the value of the time and energy of the people producing it. Why do think people say, "Time is money?" When you buy a product, you are paying for the cost of checking out at the register, stocking the shelf with the product, the cost of distributing the product to the store, manufacturing the product, the cost of manufacturing the materials used by the manufacturers and the cost of shipping those materials, the cost of mining or obtaining the raw materials and distributing those to the material mills and factories. Oh, and let’s not forget the value of the time spent marketing the products or services, or the time spent engineering the product, or the time that HR has to put in managing employees within the business, etc. etc. etc. EVERYTHING concerning the value of our products and services boils down to time spent in labor. Why do you think everything was so much cheaper when indentured servitude was legal?