The Money Game
by andrew@JijniMarkets - Fri 26 Sep 2008
Money is a funny thing; Even if you do nothing (or especially if you do nothing) you can have loads of it one minute and none of it the next. Think of the billions lost in the markets around the world recently - how does a company like Lehman Brothers be worth billions of dollars one day and be worthless the next? Was its value only a state of mind?
Wealth is a number (denominated in KSh, $, £, etc) that the world assigns to you depending on how much they like or desire you and your possessions. Your number is recorded in bank account balances or valuations of your possessions. This number is like a travel pass that enables you to travel up to where your number will allow. The difference is the limits of where you can travel with this pass are constantly changing depending on how many people have similar passes, what they think of them and what they are doing with them. Your net worth - i.e. the number you are assigned - is constantly changing. The actions of others can make your possessions worthless or priceless - think supply/demand and price. Even your hard cash can become worthless through the actions of others - think Zimbabwe Dollars.
This state of mind has spawned a game we are all forced to play: Economics. It boils down to guessing what others will do and what they will think in the future and doing the things that will make the world assign to you a high number (net worth). Unfortunately this is also a game others are so eager to win they are willing to kill and maim.
It is a game we all have to play, but it is also a game designed to allow only a few to win at any given time.
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