December 2, 2007

Virtual Money Numbers

Money today is just a "virtual number" in the bank computer.

Created by bankers in order to get the real tangible asset (Gold, Platinum, Palladiun and other metals in their vault, Oil in their bunker, LNG in their tank farm etc), and those produced the tangible got just number which depend whether or not they recognized/accepted that "number" to be transfer from bank computer to other bank computer or not if they said no then those of the "accumulated virtual number" mean nothing.

An example is China Petroleum Co bidding for US Union Oil Co that has offered to buy the shares is higher up against Chevron. The US government decided not to give the company to China Petroleum by mentioning Union Oil is strategic assets. Even this bidding was through a market process.



No comments:

Changing LINKS