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| "...my position is based on the denial that money does store wealth. I think it’s a semantic hallucination, the verbal equivalent of an optical illusion..." - Robert Anton Wilson |
"...Economics is an artform. It’s the art of the invisible. Money is fictional.
The folding cash in your pocket isn’t real. Look at it. It’s a promissory note. “I promise to pay the bearer.” It’s a little story, a fiction that claims your cash can be redeemed for the equivalent in goods or gold. But it won’t be, because there isn’t enough gold to go around. So you’re told that your cash is “legal tender,” which means that everyone agrees to pretend it’s like money. If everyone in this room went to The Bank Of England tomorrow and said “I would like you to redeem all my cash for gold, right here, in my hand” I guarantee you that you all would see some perfect expressions of stark fucking terror.
It’s not real. Cash has never been real. It’s a stand-in, a fiction, a symbol that denotes money. Money that you never see. There was a time when money was sea shells, cowries. That’s how we counted money once. Then written notes, then printed notes. Then telegraphy, when money was dots and dashes, and then telephone calls. Teletypes and tickers. Into the age of the computer, money as datastreams that got faster and wider, leading to latency realty where financial houses sought to place their computers in physical positions that would allow them to shave nanoseconds off their exchanges of invisible money in some weird digital feng shui, until algorithmic trading began and not only did we not see the money any more, but we can barely even see what’s moving the money, and now we have people talking about strange floating computer islands to beat latency issues and even, just a few weeks ago, people planning to build a neutrino cannon on the other side of the world that actually beams financial events through the centre of the planet itself at lightspeed..."
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