Writes Bill Standley: See this 1947 short What Is Money? In the film, a woman has a radio she’s purchased on layaway. (Remember layaway purchases? Ah, the good old days, before ubiquitous credit!) She notices that the price of the radio went up $5 since the last time she visited the store to make a payment on it. The film never explains the increase. Could it be the rock-steady, immovable “standard” represented by the U.S. dollar was in fact a fiction maintained by the central bank? Great job, BTW, to you and all your writers during the credit/banking implosion, of … Continue reading Remember Layaways?