11 August 2006


According to a new survey by the banking giant, UBS.

"In the US cities of Los Angeles, New York, Chicago and Miami, a maximum of 13 minutes' labor is needed."

The bank calculated the "weighted net hourly wage in 14 professions" and divided it into the local price of "a globally available product", for which it chose McDonald's premier hamburger.

"Wages only become meaningful in relation to prices - that is, what can be bought with the money earned," it said.

Article Here.

I found this article interesting in lieu of the discussions going on at How Many Miles from Babylon, and recent posts: Think Horses, Unlike Coin, and Right Hand Left Hand.

When considering monetary wages, one ought to consider the base question: What is Money? The prospect of the answer is something that will frighten the less the stout of heart. Much of what we in the United States accept as money is far a field from that which our forefathers knew it to be, and of little value than what our forebears just three or four generations handled, spent and counted. Until the issue of the “Amero” [Click on Link – I dare you!] Sit back and learn a lesson or two from history, “The Money Masters” PT1, PT2, PT3 an interesting video series. I cannot say that I agree with the conclusions drawn on all accounts, but it is a sobering view for the wanton spending and gluttonous consumption or society finds it’s self in today.


At 3:42 PM, Blogger the Contrary Goddess said...

you have to go read these two articles, my favorites about money:


Sorry, I don't know how to make it a link but it is worth the trouble, I promise.

At 12:09 PM, Blogger Eleutheros said...

This is not a complete answer by any means but an important aspect of it. Under our current monetary system, money is debt. A dollar does not come into existence unless someone agrees to borrow it.

Money is NOT, as the usual cliche defintion would suggest, a means of storing wealth or a means of exchange. It is a portable token of servitude.

When you present money to someone, you are transfering that contained servitude to them. For the moment they become your slave.

It might be that we find ourselves in a world where we cannot escape touching some of that pitch and thereby becoming mucked. But surely a decent person wants to do it as little and as seldom as possible.

At 5:27 PM, Blogger Scott Holtzman said...

Agreed. The thing I find most interesting is, as you so aptly point out, in our present system money is debt. When we 'in effect' get people or countries to accept our "money" what they are in fact doing is 'buying our debt'.

What I find strange is that most people I speak with today have no concept of the state our current "modern" monetary system is in - I think the French call it 'mort'. We are at the point where nations other then ours (yes they are out there) are, or will soon, refuse to purchase our debt. At which time holders of the current US "fiat money" will find wiping ones arse is the best use for their dollar, because of hyper inflation and in a mad rush to convert (not to another religious system, but monetary, ok, well I suppose they're the same for some....) the astounding stare & plea of the one left standing in the electronic game of monetary "musical chairs" will proclaim ~ "wadda you mean they’re worthless?!?!.....I have so many of them!)


"If the token is convertible on demand into a commodity like an ounce of gold, the token is known as commodity money. The exchange value of commodity money varies, but is never less than its value as a commodity. A precious metal coin is a token convertible into the bullion that comprises it, meaning the intrinsic value of the token coincides with its market value as a commodity.

Money that is inconvertible is known as fiat money. The government necessarily holds a monopoly on the issue of fiat money, and no longer issues convertible money. One must therefore avoid thinking in terms of commodity money to understand modern money."

(Note: In our current system the government holds no such monopoly - the "Federal Reserve" is not federal and holds nothing in reserve. Caveat Emptor.)

At 12:06 PM, Blogger Waves of Grace said...

The more I have lived the more evident it becomes how little value money is when spent on myslef.

1 John 2:17 The world is passing away, and also its lusts; but the one who does the will of God lives forever.


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