Wednesday, January 19, 2011

Well Said...

"The dollar has the soul of an an underlier but the body of a derivative. Being neither, it violates all financial logic."

~ Prof Emanuel Derman

Prof Emanuel Derman


Anonymous said...

When it was collectively decided in places that currency consisted of feathers, shells, beads, Yap Island stones, and or gold, was it any different?

Anonymous said...

Nope, pretty much the same thing as long as it was easily obtainable. Not so with gold.

Anonymous said...

In their day were not all of those former currencies not easily obtainable?

Isn't that the reason why they were deemed usable as currency?

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