Monday, December 15, 2008

Paper Money

What is money...really? It's paper. What happens when the faith and confidence in that paper evaporates? Answer; the entire system evaporates. So when a whole society builds all it's "wealth" on paper...it really become a rather large house of cards.

Please read this article. It's an interview from the guy in China who manages all the U.S. paper that they have bought. http://www.theatlantic.com/doc/200812/fallows-chinese-banker

King Solomon told us that ultimately, "The borrower will become slave to the lender". I don't think he got the title, "Wisest man in the world" without a reason.

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