BUSINESS

Kiyosaki is right, dol­lars have no intrin­sic value.  If you are going to try to accu­mu­late dol­lars, you are wast­ing your time as dol­lars have no value other than that which we and other peo­ple place on those’ lit­tle green pieces of paper with pic­tures of dead pres­i­dents on them’. Bank­ing is not about accu­mu­lat­ing, it is about uti­liz­ing money (how­ever one defines money) to cre­ate wealth.  Wealth is NOT money!  Gold is a com­mod­ity, just like sugar, corn, choco­late, or Twinkies.   Com­modi­ties to be valu­able must be traded for some­thing both exchang­ers find of value.  Bank­ing is about the effi­cient move­ment of money (how­ever one defines it) from one place to another, in the most timely and effi­cient man­ner pos­si­ble. The bank­ing process is a part of every­thing we do and every exchange we make.  You can buy gold and sit on it (accu­mu­late it), but even­tu­ally you will have to con­vert it to some­thing you want more than you want the gold.  Be care­ful with ‘accu­mu­lat­ing’ as accu­mu­lat­ing can rapidly turn to dead or life­less assets which then become toxic and become lia­bil­i­ties.  That process is the exchange process, which bank­ing facilitates.

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