Money Is A Consensual Hallucination

My favorite Onion article of all time (from 2010) is U.S. Economy Grinds To Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion . It starts off with some Bernanke brilliance. “Though raising interest rates is unlikely at the moment, the Fed will of course act appropriately if we…if we…” said Bernanke, who then paused for a moment, looked down at his prepared statement, and shook his head in utter disbelief. “You know what? It doesn’t matter. None of this—this so-called ‘money’—really matters at all.” ...

July 26, 2017 · 3 min · Brad Feld