Aasof’s Reflections

Owl was telling Kanga an Interesting Anecdote full of long words like Encyclopædia and Rhododendron to which Kanga wasn’t listening.

Unlike Owl I always have a problem spelling Tuesday – my shortcomings here saved by a spellchecker and an intuitive notion that something doesn’t look right.  When extraordinarily large valuations are put on artifacts, it simply doesn’t look right, especially when the artifact being purchased appears to be trivial, like a comic book.  But this of course misses the point, which is that the investment in artifacts can be a means of hoarding wealth.  This also means that large exchanges of money for artifacts has to take place.  However: regardless of the price that an artifact may sell for, in a world where the medium of currency exchange is fiat money, any sum of money becomes irrelevant.  With fiat money, there is no need for money to exist in a form that requires its physical exchange. Read more of this post