<HTML><FONT FACE=arial,helvetica><FONT SIZE=2 FAMILY="SANSSERIF" FACE="Arial" LANG="0">hi all,<BR>
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any discussion of money is actually a discussion of value.<BR>
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in the material world of this particular planet only 2 things have value: goods and services -- nothing else.<BR>
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we can trade goods for goods, goods for services, services for goods, and services for services.<BR>
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because we can't carry around all the goods someone might need, and because we might not offer the right services someone might want, we use money to represent the value we or someone else attach to the goods or services we provide.<BR>
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checks take the process a step further: they represent a representation. same for credit cards, misnamed as they are, as they actually reduce credit when used rather than create it.<BR>
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how do we determine the value of goods and services? simple. supply and demand. how much are you willing and able to pay for an item or service compared to someone else, given how many of the item are around or how many people provide the service?<BR>
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i have a large collection of original, one-of-a-kind drawings, but they have no value because no one wants them -- the supply is limited, but the demand is non-existent. anyone who's been on ebay has seen supply and demand in action, especially when the item gets to be more than you're either willing or able to pay -- demand drops. it ultimately sells to someone who values it more than someone else.<BR>
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do values change? you bet. ask anyone who owns stock right now. what is something worth? exactly what the seller and the buyer agree upon to complete the transaction. you can see this being played out right now on ebay with the barks oil paintings. as long as the seller values them at more than every potential buyer values them, they won't sell. what are they really worth? nothing until the seller and the buyer agree on a value.<BR>
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end of seminar.<BR>
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how did we get on this, anyway?<BR>
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regards<BR>
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