[Etoo]

[I have had many discussions on the topic over the past year with a friend who argued that “on-paper” dollars were just as valid as cash-in-hand dollars.

 

So much money can simply disappear only if it never really existed in the first place.]

"Thus, clearly, money and goods are not the same thing but are, on the contrary, exactly opposite things. Most confusion in economic thinking arises from failure to recognize this fact. Goods are wealth which you have, while money is a claim on wealth which you do not have. Thus goods are an asset; money is a debt. If goods are wealth; money is non-wealth, or negative wealth, or even anti-wealth."

 

Tragedy and Hope: A History of the World in Our Time', by Carroll Quigley; Page 44

 

Carroll Quigley was Bill Clinton's mentor.

[M-cubed]

I assume the money in this quote is “Fiat” money..

[RSmithOpt]

and time is not money neither and labor costs should never be figured into the price of a good or service, not to mention the wealth of company never counts yearly labor costs in figuring its net income, does it? /sarc

I'd are dare there's a nifty thought of now owning a couple dozen light blue tinted flawless 3 ct. diamonds versus their equivalent dollars 2 years ago.