25
May

Money is simply a store of value so we’ll always have to have that. Now there’s some forms of money that will become obsolete in my opinion, Federal Reserve notes being the main one. Sadly they are not backed by anything and they can devalue them at any time, which they have done in recent months. With US goverment liabilities totaling more then $80 trillion and hedge funds totaling more then $105 trillion its only a matter of time before the dollar collapses and some new form of money will be used to replace it. Currency has to be backed by something otherwise people will loose faith in it as a store of value. This is happening today which is why people are flocking to gold and silver.


Answer:
Actual paper money? Yes, eventually there will be little need for actual paper money.

But if you mean “money” as a means to exchange goods and services, be it digital or physical, no. We will always trade on some basis for something. Money is the simplest way to do this, as if we used goats or cows or other goods as a form of currency we would have trouble carrying around tradeable assets.


Answer:
No. Money is a replacement for battering. The medium that we use as money may change (coins v. dollar, checks v. credit cards). But Money faciliates commerce.

Answer:
If you mean paper money then yes I do..I think eventually everything will be on cards

This entry was posted on Sunday, May 25th, 2008 at 3:22 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or TrackBack URI from your own site.

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