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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Monday, July 7, 2014

Money 4.0

Money 1.0 was simply barter, I give you eggs, you give me some hay.
Money 2.0 was I give you a precious metal like gold coins for hay.  This is really 1.0, however unlike eggs, gold coins are easily stored over time, can be sized easily to different sizes, and can have a similar value across cultures.  Gold coins to me is same as barter, but its a widely acceptable physical value to barter with.
Money 3.0 - Fiat currencies by central authority created out of thin air has value.
Money 4.0 - Fiat currencies by shared authority created out of thin air has value.  To me what we need is in my post, Ideal Form of Money, Empower the People

I ran across this video, similar sentiment but a different angle.  His accent is heavy but does a good job to explain why the current system is unsustainable.






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