Dollars are worthless without crude oil
In my previous post I drew some parallels between energy and money – and more specifically, energy and banking – and pointed out that when money is at stake, the presence of energy is likely lurking somewhere in the shadows. It was mostly hypotheses and observations I was throwing around about energy and banking, but when it comes to energy and money, one can hardly overstate the connection.
Take an Economics 101 class, however, and not only will it be very unlikely that you’ll ever hear of energy mentioned in a context besides that of a random commodity within the supply and demand workings of the “free market,” but what you will likely hear is that, gosh darnit, money is an efficiency-laden tool that we humans came up with ’cause we’re just so darn smart!
As the story goes, money was ingeniously invented with three primary roles in mind:
- A medium of exchange
- A store of value, and
- A unit of account
Otherwise put, money (supposedly) has absolutely nothing to do with energy.
– See more at: http://transitionvoice.com/2015/03/dollars-are-worthless-without-crude-oil/#sthash.OTsWvnFI.dpuf
