Re: 'Why does money exist?'

Money (real and tokenized) exists because a great deal of goods and services cannot be traded / bartered at the moment those goods and services are traded. "Money" acts as a token for those goods and services, to be exchanged for other goods and services in the future. These tokens also make profit possible: profit is tokenized wealth that does not actually exist at the time it is "made," but will (maybe!) exist in the future.

This is a reply to the video at:

http://www.youtube.com/watch?v=t1jj8VH8JpM

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[legitsnipe]

Are you drunk in this video?

[Desertphile]

I am never drunk, in any of my videos: I hate the taste of alcohol.

Why do you believe it is any of your business?

[mikejmcc1970]

You are one odd dude...but holy FUCK are you knowledgeable. I just learned more about money in these 8 mins or so than I have in the past 38 years.

[Desertphile]

Er, ah.... thank you... um, I think..... :-)

[Brianswers]

So you are saying my dad lied when he said money doesn't grow on trees? :P

[SamTay04]

I'm so used to seeing you do responses to creationist and free energy videos, I kind of expected you to be mean and call her a stupid wank-tard or something. :D.

[bachhell]

"tokens" are not bad, it's the interest that is attached to it that is killing the country. The Federal Reserve Bank loans you that dollar and the interest must be paid back. Our national debt is what we owe the Federal Reserve Bank, which is NOT a government organization but a private bank.

[techdavey1000]

Money is basically a token for work previously done. It is far more convenient than using the barter system. Whether the money in your country is any good or not depends on what it will buy. For example if it takes a wheelbarrow full of money to buy a cup of coffee the currency has basically had it. The usual cause for this phenomenon is governments printing too many banknotes ( euphemism is Quantitative Easing) IMHO this is theft by the back door as Joe Public's savings lose value.

[kramnrublaw]

Money is the cause of almost every problem in the World. The value that is determined (by unknown sources) is why we will always have poverty and war. Money truly is the root of all evil. Human nature dictates what your value is a a human.

[sciencemile]

Damn, how'd they convince them to give up the Franc? :O

[ytgv3fc7]

@iamjackscolin due to having intrinsic value (consumable item). Paper currency has no intrinsic value any more than a crayon-note saying i.o.u

[TruthBeyond]

Gold standard was abandoned in the 1930's for the UK.

@Desertphile: French no longer use Franks, they use Euros (€) .

[kotykolter11]

i feel bad for you, you are probly so lonely. :(

[GTWCMT]

The GBP uk currency states and is signed.

" I promise to pay the bearer the sum of"

which is the value stated on the note. But do we get paid in GOLD.

Gold prices dont stays the same, so on your basis we get gold, gold prices has shot up, but I dont get more for my buck.

So shall we say. currency is a trading token for goods and services. nice and short

[OccamKant]

From my understanding, it was actual goods in the pots.