Ever Wonder Why You Value Your Cash?
You probably hear a lot about paper money being replace by “digital currency” in terms of bitcoins, cash apps, RFID chips rammed into the hand, or debit cards. There’s a strong push by governments around the world to outlaw cash. But why do we even value paper or digital cash? We hear Black leaders complain that Black dollars don’t circulate within our community enough. We hear our favorite entertainers worship cash. Politicians corrupt themselves for it. Big Business and Big Banks grab more of it for themselves and give us a tiny fraction of it in the form of salaries.
And for the descendants of slaves, the institution of slavery raped it from our ancestors, and increased the resulting net worth for their children and grandchildren. But on the flip side of that, that unfair transfer of wealth left us with next to no net worth generation after generation, making it much harder to pass on a financial legacy. This means we have a greater chance of being employees (wage slaves) than bosses and businesspeople. With cash from our jobs (instead of businesses for most of us), you and I spend money every day, and will get mad if someone steals it or cheats us out of it.
But why? Who told us to value digital or paper cash in the first place?