Originally published at: MONEY AND THE CON CON CON, PART 2
In the last installment of this blog, “Money and the Con Con Con,” I ended by observing that at the end of the American War between the States, one had several types of money in circulation, both in the Union, and in the recently defeated Confederacy: So we end up with, effectively, a four-tiered or four-storied…
7 Likes
Extraordinarily clear and focused synopsis of where we are. Add in the backdrop of competing nation states and non-nation state entities, and entrenched private money-power entities and you can assume whatever we get will be some sort of homunculus system lacking in purity/clarity. It is through the intentional opacity/obfuscation and the manipulation it facilitates (ex: options, derivatives) that a whole class of financial entities make their living (contributing no value themselves to the economy). If ‘money’ is abstract and elastic in value and provenance it is subject to all sorts of manipulations.
3 Likes