Intrinsic Banking
blog, General Information, money, proxy, social currency, trillionaire | Comments Off
Paper money does not have intrinsic value
Paper money has no intrinsic value. The word “Intrinsic” means: something that belongs to the essential nature or constitution of something else. The ‘intrinsic brightness of a star’ is a common definitive statement. Synonyms of the word include: built-in, constitutional, hardwired, immanent, indigenous, integral, inherent, natural, etc.
“Society” is intrinsic to economics
The Bank is an important institution for vetting social value. Despite the observation where it seems money is created out of thin air, traditionally a bank looks into a community of people and their talents to identify “social value”. This is the likelihood that ...