We don’t care about money deposited in the bank. If we ask the bank for money, I believe they will certainly return my funds. However, as shown by Lehman Brothers ’ bankruptcy during the 2008 financial crisis, banks cannot guarantee 100% of depositors’ money. In South Korea, according to the Depositor Protection Act, only 100 million won (about USD 71,000) is protected, including principal and interest per person. Anything beyond that is actually at risk. In other words, money deposited in the bank is vulnerable to losing the principal. Investing means willingly accepting the risk of losing the principal while seeking profit. Whether we like it or not, we are always investing in our daily lives. Just because a risk doesn’t materialize doesn’t mean it’s gone. - Joseph’s “just my thoughts”
I previously presented the stone currency "Fei" used on the island of Yap in Micronesia, the western Pacific island nation. The "Fei" currency was a round circle, sometimes over 3 meters in diameter and weighing 3.5 tons. The island of Yap had no roads. People went in and out barefoot. Several people carried this money by placing wooden sticks in the center hole of the circle. The island used to belong to Germany when Germany bought the Caroline Islands from Spain. The German government ordered the village chief to repair the path. But the village chief refused the order. A fine had to be imposed, and the heavy stone money could not be confiscated. After much agonizing, the German government marked the stone money with a cross in black paint. In other words, they confiscated the property. Surprisingly, the village head repaired the path and the German government removed the cross. The seizure was lifted. Economic value is personalized through ownership. The key to o...