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Originally Posted by netwrkranger
As far as money goes, it even isn't backed by substance. It is backed by credit (Latin. credere - to believe).
Seems to me law and commerce are just as religious as religion is. Have faith?
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Even money of substance such as a gold coin or a silver coin has elements of faith. To save a coin and believe that it will have value in the future is to believe that a significant population of other people will still be around to recognize the coin and redeem it with commodities, finished products, and/or intellectual or physical human labor.
Money, and "value" are also words of faith and shared imaginative precepts.
The use of precious metals in coinage is essentially an anti-counterfeiting protection because nobody can simply print unlimited coins like they can with paper.
Because I define money as a method or set of methods for communicating ownership of real things by proxy, then I also define counterfeiting as any lie told with money instruments.
The federal reserve is a lie from the get-go as the credit they loan is the property of the people that was taken by the government and assigned to the banks in an implementation of the fifth plank of the communist manifesto. The subsequent debt then becomes unpayable because of this improper bookkeeping.
Money as a communication is unlimited in quantity, but must be limited in its ability to tell lies.
Levi Philos
