If I tell you money is overrated, I’m sure you’ll look at me like I’ve lost my mind. But from looking at how the world worked and still works, you will understand what I mean. If the people in power who mint and create money suddenly decide to stop, what will happen? Will the rich still be rich? That was why in the past, the truly wealthy had their wealth measured by gold.
The Gold standard was key because it was considered one of the most valuable assets. It was even more important because it was rare and was of a limited supply. The ground has to be dug to search for gold. These reason made it a mark of wealth. The same goes for silver and the not so respected bronze. Diamonds were a sign of wealth too (basically most natural resources), but gold, silver and bronze were key trading (buying and selling) materials.
In some places, cowries were used by the masses to buy and sell. Cowries were also natural to the earth, but they were not precious enough to make one rich. And of course the famous trade by barter. By observing trade by barter, you’ll see how money just acts as an exchange of value. The ancient ones gave something they had for what they wanted. For example, someone who wanted to buy a small/ medium plot of land would negotiate with the seller on what was needed in exchange. This kind of big transaction was mainly done by the rich and the exchange was likely gold or silver. But a lower value person who lacked gold might suggest given 5 rolls of cotton and 100 potatoes. If the buyer and the seller agree on this value of exchange, the sale is made. But this was stressful many times, as the seller might not want what the buyer has. This lead to the buyer doing barters with other people to get what the seller values.
So basically money is an affirmation of someone’s value. What does this person have that can make me have what I want? But money is a controlled supplied entity, unlike gold. And even the latest buzz in the financial field, Bitcoin (and other crypto currency) is still a controlled supplied entity. Though Bitcoin might have a fixed number in existence and cannot increase, it still isn’t gold. The nature of the coins are just like Fiat money – Absolutely changeable and unstable. It can crash and increase depending on how the strings are pulled.
Now to the other part of the title “…, but power is”. Defining power in the first place is a complex subject. It has so many definitions and sometimes blended in with authority. At the end of the day, power is simply the ability to control. Whatever controls someone has power over the person. Let’s say I have a boss, he tells me when to go and when to come. He has power over me. If I’m susceptible to being controlled by my emotions, it has power over me.
Are all powers bad? No. And vice versa for the opposite question. The people who created the system of money have the power. The people who created the system of crypto currency have the power. Well, God created Gold and we all know of His power. Take note that I am not condemning money ( As me and money attract and like each other), but rather the thinking of forgetting that the world is ruled by power.
No, the world is not ruled by money like you’ve been made to think. Because if money is a show of inherent value, obviously those who have power will have it. It’s like a bird having feathers. That’s easy, because all you need to do is be a bird, feathers are part of the bundle. There can be a country today that solely decides not to have a currency and it can be a wealthy nation. It’s just that the powers that be will not like it and try to suppress them. Why does the world all follow the US dollars? Even when pounds and Euros have an higher value. Power. That’s to show you how people follow power first.
Actually when people say that they need money, they mean something else. Most times, it’s many other things. They might mean that they want to enjoy the luxury of wealth. Or they want to have new clothes, visit another country, build a house, buy books, etc. Money is just a synonym of ” Enough value to have what I want”. What about credit cards? Those pieces of cards that lets you get stuff free that you have to pay for later. That is still perceived value. That money does not currently exist for you, but you are allowed to buy while your value decreases. You have to pay back, or you get into debt as a valueless person.
So, value is synonymous to power as money is synonymous to wealth. The unwise chase money as a means to no end and do not get much of it. While those who understand the concept and creation of money, get as much of it as they want. This is because they strive for power, as much as they want to acquire. Then money cannot control them, but works for them. And if money turns to rubbish today, it will not affect their wealth.