I was reading the journals of Laura Ingalls Wilder. Thought I would share this excerpt:
Money hasn't any value of its own; it represents the stored-up energy of men and omen and is really just someone's promise to pay a certain amount of that energy.
It is the promise that has the real value. If no dependence can be put on the promises of a nation, then the currency of that nation, which is its promise to pay, is worthless.
I wonder, if she were still alive, what she would think of the economy. I would love to hear her thoughts on the bailout money being handed over.
Trust you are staying warm. The temps here are well below zero and the wind makes it even worse. Thanks so much for stopping by, I am glad you did.