News of the incredibly powerful hold of money in our lives assaults our senses with such regularity and intensity, it takes great moral rectitude to resist being swept away by its alluring potency.
The US Federal Reserve says that in July 2009, there was USD8.3 trillion in cash in circulation worldwide. That number would have grown considerably given the fact that the US is the largest debtor in the world and it prints money that is not backed by the gold standard.
In one of the world’s richest country, where we reside, the Monetary Authority of Singapore, states that between 2002 and 2011, the amount of Singapore currency in circulation almost doubled to just under S$30 billion.
Everywhere, nations crave more. People crave more (though they may find it a lot harder to get it).
Kannan Chandran
Publisher/Editor
