One of my common refrains goes something like this: “Money isn’t real! It’s all made up and imaginary!”
In point of fact, this is true to an extent. The United States and most other nations abandoned the gold standard over the course of the 20th century, severing money from any sort of physical or material value. With the advent of the computer age, even coins and paper money are becoming obsolete. Money, for all intents and purposes, is a fantasy that floats around inside of electronic brains.
Practically, however, I recognize that money holds very real power. Humans everywhere spend their lives in pursuit of making enough money just to survive. Some few manage to hold onto enough to “thrive.” A very select few are so enormously wealthy, and control so many other forms of power, that money quite literally becomes value-less to them. Whereas I might do any number of things if offered a million dollars, someone like Warren Buffett is actively working to give billions away. Read more