Is wealth just positive debt?

[Warrior_of_Freedom]

So seeing the "This note is legal tender for all debts, public and private" on our paper money makes me think the whole money system is just a long chain of IOUs. So when I get paid, I get a few hundred dollars saying society owes me x amount of dollars in goods and services. But, when the government prints money, they end up being "You owe us." or... YOUs.

[VBRonPaulFan]

if you think of paper as money and wealth. wealth is really what you use those paper dollars for. say, over time to purchase a house, buy equipment for your business, buy clothes, etc. the paper has no value, but the assets you got with them are.

[DamianTV]

Wealth is something of value. The product you produce. The car you repair. Any form of currency that is based on wealth reflects the value of that wealth, but is not in and of itself valuable. You can't exactly look in a mirror and eat a the reflection of a cheese burger. It is the original cheese burger that has value, and needs to be consumed or performed for that value to have an effect on the world. The food you eat has to come from somewhere and that work and product have value. Fixing that car has value.

We currently back our currency with debt, as many people know. When that debt is paid off, the currency used to repay that debt is destroyed. However, due to interest, and fees and the various plethora of money manipulation, some part of that debt will remain. When you see currency, it represents someone elses unpaid debt to someone else. Debt based currencies and the laws that issue such fiat denominations as legal tender reflect enslavement to the duress and will of a small group of dominant men.

True Wealth is much more than just positive debt. Just as an Academy Award Movie is more than just a collection of images and sounds. The Value of True Wealth is a whole that greater than just the sum of its parts. It is more than just the products we produce and the work we perform. Wealth liberates the ordinary man, but that man may still fall victim to the wiles of the Money Manipulators, if not protected by the laws of the land.

True Wealth not only Liberates the Ordinary Man from Oppressive Government and Manipulative Bankers, it Liberates Entire Societies. The Value of True Wealth is a sight to beheld by the Citizens who are Truly Free.

[YumYum]

Wealth is something of value. The product you produce. The car you repair. Any form of currency that is based on wealth reflects the value of that wealth, but is not in and of itself valuable. You can't exactly look in a mirror and eat a the reflection of a cheese burger. It is the original cheese burger that has value, and needs to be consumed or performed for that value to have an effect on the world. The food you eat has to come from somewhere and that work and product have value. Fixing that car has value.

We currently back our currency with debt, as many people know. When that debt is paid off, the currency used to repay that debt is destroyed. However, due to interest, and fees and the various plethora of money manipulation, some part of that debt will remain. When you see currency, it represents someone elses unpaid debt to someone else. Debt based currencies and the laws that issue such fiat denominations as legal tender reflect enslavement to the duress and will of a small group of dominant men.

True Wealth is much more than just positive debt. Just as an Academy Award Movie is more than just a collection of images and sounds. The Value of True Wealth is a whole that greater than just the sum of its parts. It is more than just the products we produce and the work we perform. Wealth liberates the ordinary man, but that man may still fall victim to the wiles of the Money Manipulators, if not protected by the laws of the land.

True Wealth not only Liberates the Ordinary Man from Oppressive Government and Manipulative Bankers, it Liberates Entire Societies. The Value of True Wealth is a sight to beheld by the Citizens who are Truly Free.

Wealth is relative. If there is no gas to run my car, the car repair has no value.

[DamianTV]

Wealth is relative. If there is no gas to run my car, the car repair has no value.

Exactly. But doing work on your car to make it solar powered (cold fusion, hydrogen, electric, or whatever) will have value. And the currency can only reflect that value.

[Fermli]

The US dollar is an IOU nothing.

The Euro is a who owes you nothing.

[Zippyjuan]

Wealth is how you live- your quality of life. If you wish to use pieces of paper or possession of objects as a true measure, that is fine. Whatever makes you happy. Some feel wealthy by simply having enough to eat, a place to live, and some left over for enjoyment. Some can have piles of paper and mountains of stuff and not be satisfied. The question is what do you consider "wealth"? Money is a medium of exchange between your labor and things you aquire. It has no real value until you trade it for something else.

[Acala]

Wealth is how you live- your quality of life. If you wish to use pieces of paper or possession of objects as a true measure, that is fine. Whatever makes you happy. Some feel wealthy by simply having enough to eat, a place to live, and some left over for enjoyment. Some can have piles of paper and mountains of stuff and not be satisfied. The question is what do you consider "wealth"? Money is a medium of exchange between your labor and things you aquire. It has no real value until you trade it for something else.

Yup. Wealth is a subjective state. Voluntary transactions increase the overall wealth because both parties to the transaction are subjectively better off. In a forced transaction, at least one party is NOT better off and so forced transactions may not increase wealth and may even decrease it. This is why government cannot, in the long run, create wealth. It can create money, but not wealth.

[ChaosControl]

Wealth is a fiction.

[Kylie]

Yup. Wealth is a subjective state. Voluntary transactions increase the overall wealth because both parties to the transaction are subjectively better off. In a forced transaction, at least one party is NOT better off and so forced transactions may not increase wealth and may even decrease it. This is why government cannot, in the long run, create wealth. It can create money, but not wealth.



Very nice summary.

[Elwar]

If you do not get a pay raise of several billion dollars then you are actually getting a pay cut.

[Uncle Emanuel Watkins]

if you think of paper as money and wealth. wealth is really what you use those paper dollars for. say, over time to purchase a house, buy equipment for your business, buy clothes, etc. the paper has no value, but the assets you got with them are.

Credit cards encourage people to buy products irresponsibly at above cost. Borrowing money encourages people to buy products irresponsibly at above cost. So, if the assets are the only value, then our economy is junk.
See, the only way out of this situation of a thousand years of outer darknees is to abandon our property and our homes to live in the parks, on the streets, and under the bridges. As an American, I own all the property and wealth by natural right. As a Christian, I own all the property and wealth because the Almighty granted it to me when I was a member of the worthless multitude. These are the aspects that created our great economy. The tyrants in charge of our nation today aren't one bit any different than the tyrants who rule over the other nations and they haven't the capability of producing any more than they are able. Take them all and grind them up into their most basic of elements and, save for DnA analysis, they will all wind up the exact same bone, meat, and fat.