Google’s parent company, Alphabet, hit a new milestone on Friday: a $2 trillion market cap.
Google is now the world’s fourth most valuable public company, right behind Nvidia, Apple, and Microsoft, which has a market cap of just over $3 trillion and overtook Apple earlier this year for first place.
I’m not talking about the concept and use of money(which it’s supposed to be backed in something real) I’m talking about the electronic system of money, which are just an unreal electronic bunch of numbers backed up in nothing, maybe if the countries economies return to be backed at least in something real it would be better for the world’s economy.
Edit: to give you a practical example, do you think if you add up the money that supposedly exists in all the banks worldwide, is there something physically real that represents that value? Or what is the same, could you buy everything that exists and still have money left over?
The actual problem it’s modern economy it’s backed in nothing else than zeros into an electronic economic system, so it will only benefit to the most wealthy 1%.
If you’re talking about a gold standard, no. It resulted in huge economic instability.
https://www.moneyandbanking.com/commentary/2016/12/14/why-a-gold-standard-is-a-very-bad-idea
If you’re talking about an oil standard, fuck no. For obvious reasons.
If you’re talking about some other standard that wouldn’t have the gold standard problems? What would it be?
Paper money is often backed up by nothing. It’s a little scrap of paper that only has value because we’ve all agreed it has value.
At least paper money it’s something real, what about adding and quitting zeros in a LCD panel? Using it correctly you can make countries go to the fuck and other countries have a great economy. Even more if it’s a centralized economic system.
What do you mean by “real”? The paper is literally worthless by itself. It’s only worth anything because we’ve all agreed on it. It’s the same exact situation with the digital zeros and ones.
Yeah I think I used the wrong term… it will be something more like physically possible than real.
The point is that if you’re doing anything besides direct bartering of physical goods, then you’re trading in something that has basically no actual inherent value. Paper bills, gold, whatever, doesn’t matter. The vast majority of its value comes from our mutual agreement that it has value as a trading device.
I keep trying to tell gold bugs who claim that gold has inherent value that you can’t eat it and it’s impractical for building a shelter, so no it doesn’t.