It's All About Money - Why Do You Avoid It?
Hey there, thank you or nkongte (in my language) for tuning in. I see you enjoy uncomfortable conversations, so let’s get uncomfortable, shall we? Since I already covered this money topic three years ago, this will serve as a continuation and a deeper look into the subject. Of course, a link is available if you’d like to revisit my raw take on money. For now, I want to pivot toward the crucial role played by the U.S. military. But before that, let me lay the foundation for this episode. Read on, please.
At the end of the day, money is a tool that helps you receive or give value. You can read about my previous (here) money talk for more context. Please don’t misunderstand me when I mention value. I know time is also another way of giving value. For example, someone recently told me they were too busy to see me. In that sense, time becomes a form of value exchange, where my value is not worth their time. This is also why a caregiver may be paid relatively little compared to a doctor: the value of their time differs, along with other nuances not relevant to this conversation.
What makes money stand out is its scarcity. Yes, you might say, “But time is scarce too,” and you’d be right. However, when you place time in the marketplace, you see how little value it commands for most people. Many sell their time for money and are paid based on either their perceived or objective value. It doesn’t matter how much you earn if you must sell more and more of your time to get it. This is a cycle many never escape until they grow tired, retire, and eventually pass away.
As I said in my previous post, you can claim “I love my job,” but there’s only so much time you’ll sacrifice without being paid for it. This isn’t about blame, it’s about recognizing reality. Life demands that you eat, clothe, and shelter yourself. These are the basics, and to obtain them, you must give something, which in most cases is money. Again, money is simply a tool for the exchange of value. This realization struck me a few years ago, and I became fascinated with the question: Why do we avoid talking about it?
In this world, if one must talk about money, they must also talk about the United States. Here’s why: the dollar is widely accepted and considered a currency. Notice I didn’t say “considered money,” but rather currency. Money is the underlying foundation that gives currency the right to serve as its representation. In the past, that foundation was gold. Today, it is the trust in U.S. strength and military power.
After the world wars of 1914 and 1945, nations sought safety in the U.S. Just as you wouldn’t carry all your money around for fear of theft, nations treat their reserves the same way. These reserves are typically held in gold or U.S. government bonds. The U.S. emerged as the strongest power after the wars, and nations entrusted it with their reserves. That’s how most countries ended up shipping their gold to the U.S.
If you doubt U.S. power, look at what happens when nations and investors panic. During the COVID-19 pandemic, the world was thrown into chaos. Demand for U.S. debt securities skyrocketed as countries scrambled to safeguard their wealth in the U.S., trusting it would be protected.
Ever since the U.S. military flew into Venezuela and arrested Nicolás Maduro, I’ve been rethinking what money truly is. In the past, you deposited gold in a bank, received a receipt, and that receipt served as currency. Whoever held it could return to the bank and claim the gold. Today, most of the world’s gold reserves remain heavily guarded in U.S. vaults. Some countries talk about repatriating their gold, but when chaos strikes, as in 2020, the safe haven is still the U.S.
Many questioned the might of the U.S. military until they saw troops replicate a movie scene, cutting through Venezuelan defenses and removing their president. If you’ve ever played chess, you understand what it means to take out your opponent’s king and queen while knights, bishops, castles, and pawns remain on the board. It’s a demonstration of power.
Ladies and gentlemen, money is represented by the dollar as the global reserve currency, and that status isn’t disappearing anytime soon. When you hear minor trends suggesting China will take over, brush them off. Unless the U.S. starts losing wars internationally or collapses from internal political divides, there’s no doubt about the dollar’s role as the world’s representative of money.
Thank you!
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