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-Short Attention Span Theater-
U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion
2010-02-17
The Onion

WASHINGTON--The U.S. economy ceased to function this week after unexpected existential remarks by Federal Reserve chairman Ben Bernanke shocked Americans into realizing that money is, in fact, just a meaningless and intangible social construct.
Actually, money is a very meaningful but intangible social construct that allowed us to skip the difficulties of daily sequential barter sessions. But leave us not spoil the flow of the Onion's writer...
What began as a routine report before the Senate Finance Committee Tuesday ended with Bernanke passionately disavowing the entire concept of currency, and negating in an instant the very foundation of the world's largest economy.

"Though raising interest rates is unlikely at the moment, the Fed will of course act appropriately if we...if we..." said Bernanke, who then paused for a moment, looked down at his prepared statement, and shook his head in utter disbelief. "You know what? It doesn't matter. None of this--this so-called 'money'--really matters at all."

"It's just an illusion," a wide-eyed Bernanke added as he removed bills from his wallet and slowly spread them out before him. "Just look at it: Meaningless pieces of paper with numbers printed on them. Worthless." . . .
Go read the rest.

More Onion existentialism here.
Posted by:Mike

#4  Rantburg U rules!!!! :-D
Posted by: trailing wife   2010-02-17 23:41  

#3  Moneys value depends on it being used as a proxy for peoples time.

i.e. temporal barter.

If the state breaks the temporal barter, so that either not spending a currency makes you richer (deflation) or holding a currency makes you poorer (inflation) then people cease to use the currency.

Once people cease to use the currency it's Game Over.
Posted by: Bright Pebbles   2010-02-17 20:06  

#2  By the time Bernanke is finished it will be an illusion.
Posted by: DoDo   2010-02-17 17:20  

#1  It is symbolic and mutual, but not an illusion.

Money represents the time exchanged in the economy, mediated by the relative productivity* of the participants.

Productivity means the ability to fulfil a shortage, it can also unfortunately be a case where "productivity" is artificially high because of the state enabling rent-seeking.
Posted by: Bright Pebbles   2010-02-17 17:14  

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