Before revision: Because of their provable indeterminateness, certain economic values and thus prices are fixed by subjective confidence, beliefs and fantasies loosely bound by market constraints. One may imagine such a monetary system as being " suspended in thought " . Monetization of " (derivative) promises " of any kind, as well as interest levied by banks in return for money created via monetizing future profits systematically reallocates resources toward the financial institutions, and away from industrial and manual production, farming and labor.
After revision: This review is about the convenience, the benefits, as well as the destructive capacities of money. It deals with various aspects of money creation, with its value, and its appropriation. All sorts of money tend to get corrupted by eventually creating too much of them. In the long run, this renders money worthless and deprives people holding it. This misuse of money creation is inevitable and should come as no surprise. Abusive money creation comes in various forms. In the present fiat money system " suspended in thought " . Monetization of " (derivative) promises " of any kind, as well as interest levied by banks in return for money created via monetizing future profits systematically reallocates resources toward the financial institutions, and away from industrial and manual production, farming and labor.