For centuries a system of Barter was used in order to exchange things that were plentiful in one area for things that were scarce. Adventurous traders travelled long distance and brought various goods plentiful in their environs to trade or exchange for other things that they had scarcity of and needed.
Later when coins were adopted, these were used as measures of specific value in order to purchase goods from others. Usually they were made of materials (such as gold and metals) which were accepted by many peoples as unique, scarce and which retained their value, over time.
Finally, certificates or bank notes were used internationally especially when the gold equivalent to the face value of the issued certificate was possible. It provided a more easily transported medium of exchange that was widely accepted and recognized.
Many times in history, however, economic crisis occurred and destroyed the savings and investments of millions of people. This was especially the case when a form of paper money was widely used to the exclusion of other products as the medium of exchange.
When a certificate or note of exchange was devalued to the point that it could not longer be exchanged for its face value in some widely accepted and recognized physical medium, the confidence in that currency led to a loss of confidence in the economy of that country. This has often been called a Crash.
At other times, various other products were greatly appreciated by a society and this lead to competition to possess such items for status and gain.
Although, no one, for many generations now, would consider a Tulip Bulb worth the price of a House, at one point in the past, this is exactly what value Tulip Bulbs had in Holland, until the market collapsed.
Generally, although some old items are considered antiques and valuable, to some, to many others, what is new is much more appealing and desirable.
Today, beyond currencies as a medium of exchange, with a few exceptions, things which are of value to one generation are not necessarily of value to succeeding ones. There are not many items which are universally recognized as valuable.
Most of the world today, tends to rely on the good standing and reputation of our governments and the productive economies of our countries to guarantee whatever currencies they issue. These are exchanged at a set rate, and used for trade and exchange with other governments employing a similar arrangement.
Nevertheless, we have all heard of people so distrusting the stability of their governments and banks that their 'valuables' were either buried or hidden away. Most of us have heard of the proverbial money hidden in the mattress. Whenever, people were in fear of losing their savings, they hid them in case they needed to provide themselves with the basic necessities to help them survive.
Despite the current commercial where the family rushes all their paper money and coins over to a particular bank, because this bank is offering 2.5% interest; their paper money would probably be the least valuable item they should have hoarded in a crisis. Because of the issuer (the governments) ability to devalue it whenever they wanted, it would most likely be, almost or even totally, worthless at the time of a serious crisis.
Valuables, historically consisted of other rare or scarce items such as diamonds, gold, art, and in some cases, real estate (property). Often small, rare and unique portable items that seemed to retain their value, were desirable as well. These were saved in case a time came when it might be necessary to leave your home or country and still be able to purchase the necessities of life. In some instances, this included a family's safe passage out of a war zone and transportation costs to a new country.
I wonder however, whether today even some of these time honoured methods would help us to survive a big economic crisis. I believe we are currently going through a particularly materialistic period universally. Although, an incredible number of products are produced, newer models and styles very quickly devalue the earlier ones.
Unfortunately also, many things are not built to last either. It is very often cheaper to buy a new item when something breaks, than to repair it. In the case of technology, the newer item may have more to offer as well.
In general, therefore, I don't think much of what we buy is likely to be of lasting value.
Despite this, many consumer products, such as clothing and beauty supplies are produced and sell for incredible prices, although they are consumed or discarded very quickly. Ultimately this means we discard far more than we keep. Today's treasure is becoming tomorrow's trash faster than ever.
Unfortunately, and perhaps more importantly, I think this sometimes extends to People as well. Just as we have become fickle consumers, the People around us are more carelessly treated than they might have been were most of us living our entire lives dependent upon each other in a small village or community.
The larger the place we live, the more people we encounter. When our quest for the latest and the new idea or fad, begins to extend to the people around us, it is probably time for us to slow down and not be so quick to pick up a new friend or a new group every time we make other material changes in our lives.
When the people around us become as interchangeable as other things in our lives such as the clothes we wear, and as disposable as last years ipod; we might be wise to consider whether we will ever have enough, and whether we are losing our capacity to understand and appreciate quality when we see it.
A fundamental consideration becomes whether we can ever be satisfied with ourselves as we are. Without some soul searching, we risk ending up with a lot of worthless junk, both materially and personally.
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