The Value of Money

What is the value of money? Will paper money be replaced by electronic money? Who will control the electronic databases? Is the citizen a mere pawn on the chessboard devised by the wealthiest and most powerful?

Sixty years ago the following observation was made:

“Money bewitches people. They fret for it, and they sweat for it. They devise most ingenious ways to get it, and most ingenuous ways to get rid of it. Money is the only commodity that is good for nothing but to be gotten rid of. It will not feed you, clothe you, shelter you, or amuse you unless you spend it or invest it. It imparts value only in parting. People will do almost anything for money, and money will do almost anything for people. Money is a captivating, circulating, masquerading puzzle.” — Federal Reserve Bank of Philadelphia, “Creeping Inflation”, Business Review, August 1957.

Is the pleasure of wealth to found among the wealthiest who circulate most of the wealth among themselves while masquerading it as something else?

What is the value money when you don’t have enough to live on and you are no longer a partner in the circulation of it?