Sunday 3 June 2012

"There is no wealth but life"

As thus: lately in a wreck of a Californian ship, one of the passengers fastened a belt about him with two hundred pounds of gold in it, with which he was found afterwards at the bottom. Now, as he was sinking — had he the gold? or had the gold him? 

John Ruskin "Ad Valorem", Unto This Last, 1860

Unfortunately for the rich of the world, they have so astonomically increased the quantity of what is fictitiously called 'wealth' that there is insufficient gold and not enough cowrie shells to strap around their waists in the hour of need. 'Wealth' must find its expression somewhere (what good is it if it nourishes only the individual and is not recognised by the world and the poor?) and as all banks and many 'sovereign' nations are deemed unsafe havens, there is not enough capacity in Germany, which now must be paid to take in deposits, whilst the less successful have to make do with riskier mattresses such as the United States or even the UK.


The faith of people that fleetness of foot (and on what else is the City of London based?) can keep them always ahead of the impending correction of ecomonic, political, social and geophysical imbalances is almost endless.