No, money is not a “collective illusion” or more often called a “collective delusion.” How many times does Saifedean have to address this one for people to learn…
Fairly certain that idea is not from Menger (maybe a misreading of Menger), but more likely Keynes and it’s a socialist idea, not an Austrian one.
You don’t just arbitrarily decide that one money is better than another and then the market uses it successfully based on delusion. Rather, the marketplace, over time, organically determines the best money based upon monetary properties (scarcity, durability, portability, etc.)
“History shows it is not possible to insulate yourself from the consequences of others holding money that is harder than yours.” - Saifedean https://v.nostr.build/N4lbhGgaLOmTxykq.mp4
If enough people could reliably save, the State would collapse. Given that everything the State has is stolen, in order for the State to persist or grow, savings must either be outlawed (or at the very least heavily restricted) or the plunder of savings has to be so obscure that the populous doesn’t realize it’s happening. Are your houses and 401k’s reliable savings instruments?
Been wanting to recommend Existential Kink for 3 weeks now. https://youtube.com/shorts/C3c37BSWyo0 I first read it about 4.5 years ago. As we entered Scorpio season last month I felt drawn back to it perfectly in sync with the depth of Scorpio vibes and been doing the EK process, finding hidden unintegrated shadowy pleasures in my psyche manifesting seemingly undesirable circumstances in my life. I highly recommend it.
Also, meant to say Carolyn Elliot not Myss. #shadowwork #inneralchemy #alchemicalartist #alchemy