Making money with money is called finance. Simply put, it’s a money trade. However, the most crucial asset in a business that earns money is ‘time.’ Over time, money can grow into more money, whether through a return on investment or interest. So, what does time do? Time causes changes in value, shifting from low to high, and then back from high to low. Time is not equally valuable to everyone. It provides different returns for those who accurately estimate its worth and take action. The value of time varies from person to person, as each individual perceives it differently. - Joseph’s “just my thoughts”
There is a country of 607 islands in the West Pacific, Micronesia. One of the islands, “Yap Islands,” used limestone as a currency. The monetary unit is “fei”. Big stones, oh no, big money, 3.6 meters in diameter and weighed 3.5 tons. The bigger and heavier is a more expensive price, because of the harder the carving. The peculiar thing was that when the people moved the stone for trading, they directly moved it with a canoe, and no one marked the money after the transaction. In the meantime, a rich man had to deal with someone and he met the storm while carrying the stone money in a canoe. Securing his survival, he had to throw his money out of the canoe into the water. When he met the counterparty with an empty hand, no sooner did they confirm the force majeure case than the counterparty confirmed that the villagers additionally recognized the value of the sunk money in the water and approved the transaction. Then, the existence of the sunk stone money was recorded on a wooden board,...