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Money Has No Value

Money is not a thing, but a marker of a social relation of credit and debt between two parties. Money is not value itself; no form of money (as money) ever possesses any positive, intrinsic value. Not only is all money credit, but in an important theoretical sense, all credit is money to the extent any credit/debt between two parties has the potential to be transferred to another party (thereby functioning as money). Samuel Chamber’s new book, Money has no value, links a radical credit theory of money to global capital flows, national and international monetary policy, and the daily turnover in the money markets and offers the conceptual framework to understand what is going on with Bitcoin and GameStop. Samuel Chambers, Beverley Best, Patrick Murray, Chris Nealon (mod)