Comments on: Dmytri Kleiner: Against the Quantity Theory of Money https://blog.p2pfoundation.net/dmytri-kleiner-against-the-quantity-theory-of-money/2013/05/31 Researching, documenting and promoting peer to peer practices Sat, 01 Jun 2013 08:42:30 +0000 hourly 1 https://wordpress.org/?v=5.5.15 By: Marc Gauvin https://blog.p2pfoundation.net/dmytri-kleiner-against-the-quantity-theory-of-money/2013/05/31/comment-page-1#comment-536123 Sat, 01 Jun 2013 08:42:30 +0000 http://blog.p2pfoundation.net/?p=31361#comment-536123 Fisher’s velocity of money is meaningless because it is not a velocity i.e. vector quantity with magnitude and direction it is a scalar or rate. As such it is next to useless for predicting anything.

The flaw regarding money is not what and how we manage it and how it flows, it is that our beliefs about what money is and does is wrong. The only logically tenable definition of money is as a unit of measure which is in direct contradiction with the allegoric nonsense of money also being scarce commodity of variable value:

Money dose not flow but rather it is annotated. What flows are the goods and services.
Money can never be an input to transactions but rather it is an output, therefore it cannot be scarce.
Money has no necessary physical properties so to cannot be an industrial product.

If you want to explore our collective irrational beliefs about money that serve as the pseudo scientific foundation of the current crisis the read “The PSYOP of Money” here: http://bibocurrency.com/index.php/store/14-english-root/101-book-page

When you understand how the current definition of money is a false paradigm you will understand why a common standard for money is the only option out of the crisis and to veer humanity’s course from certain Hell. Check out wwww.bibocurrency.com

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