Full story here. An interview with Janet Tavakoli author of “Dear Mr. Buffett”, the story of her meetings with Warren Buffet prior to the economic downturn and how that impacted the way she views investing. She gives an interview where she defines and discusses many points of the current economic situation.
“BRIAN LAMB, HOST, CSPAN Q&A: Janet Tavakoli, author of the book ”Dear Mr. Buffet,” what do you think of money?
JANET TAVAKOLI, PRESIDENT, TAVAKOLI STRUCTURED FINANCE: What do I think of money? You know, I’m glad you asked that question because this is all about money and whether or not Washington protected our money and what has happened to our money over the past few years.
Money was nothing more than something we human beings created in order to enhance our probability of survival. So money is a very important means of exchange.
You know, and back when we created money, the reason we did it is because, let’s say I was growing wheat. Well, I would have to exchange my wheat in the marketplace for various goods and services that I needed. And if somebody didn’t need wheat at the moment, it would be hard for me to barter my wheat for something else.
So we created money as a representation that I have this wheat behind it. I’ll give you this piece of paper or this coin and someone else will take that piece of paper or coin for your goods because they know that I have wheat backing my coins.
And we created money to make it easier for us to trade goods and to enhance our ability to get the things that we need to survive, to make life better for everyone. So money isn’t an evil thing. Money is actually a good thing that we humans created. (more…)