There was a discussion on the BBC Radio 4 ‘Today’ program this morning which is probably the most important issue for Britain today and probably the world. (Blimey – pompous or what?)
“A conference exploring ways to develop British manufacturing will be held at Cranfield University today. Sir Alan Rudge, chairman of the ERA Foundation which funds and advises technology research, and Justin Urquhart Stewart of Seven Investment Management, debate whether more manufacturing would heal our economy or simply serve to denigrate the UK‘s world-leading financial services sector.”
‘Making stuff is important and financial services are not.’ I paraphrase, but that is really what it is all about.
My point is that this “story” won’t be published by most of our media or indeed heard the British population as a whole because, I suspect, that it is seen to be a bit difficult to grasp. I suppose that might be actually true, BUT that is no reason to bury it – it is bloody vital! And here’s the thing, “Money does not really exist”.
The invention of ’money’ was one of humanity’s most important “light bulb” moments and has enabled mankind to trade, progress and develop; but it has been corrupted out of all recognition, to the point where its real purpose has lost, and has become a mystical thing in itself.
Money, in its purest and most useful sense, is simply a means of exchange between the man who has some goat’s milk for sale and the woman who wants to buy some bread.
Investment, in its purest and most useful sense, is the link between the woman who invents a technology to make a better battery and needs money to market and develop that battery (and boy is she going to be rich!) and the man who has some money he does not need just now for his living costs.
Real stuff is the work people do when they dig the ground for vegetables or iron ore;
Fantasy is the world of the hedge funds that make money from betting that such and such a venture will fail, or betting on the future price of coffee falling. Now come on – what is the benefit, to you and me, of that?
Sadly, financial services, are not services at all – but simply and sadly a conduit, a means to transfer value from a gullible cash holder to the exploiters of same., and remember, money does not really exist – people, ideas and the useful work they might do does.
The sense of self worth a person gains for being paid and appreciated for doing something “worthwhile” is real and priceless but China digging holes all over Africa, poisoning Africans (and its own population) in the process, just to make iPads is not.