Steve's barking; Buggy whip monetary economic thinking.

Buggy whip economic thinking, what the funk is that?
The other day I just happened to be watching CNBC and listening to something that seemed a little off to me. Then it dawned on me about money in economic terms, only they were talking about money and inflation as if we still lived at the turn of  2 centuries ago.
Money has changed throughout the centuries, at first it was an easier way to be paid with gold coins then being  payed in chickens. Soon it was discovered that carrying too many gold coins in a person's pocket ripped the pocket and gave you a hernia, so the promissory note know as paper money was invented. This was all done all before the dismal science called economics was thought of, along with banks that took these dollars that weren't needed and borrowed this money usually with the promise to give the lender a little extra dollars when they wanted it. To get the money to pay the lender, the banks then became bigger lenders and that's how they made their profits. Now some economists came to the conclusion that this was a way of inflating the money supply. To make this story less complicated then what it already is let's just say that as long as all that money was needed by the original lender all was fine, but when the secondary lender( the banks) needed the money to pay the original lender and the secondary borrower didn't have the money all hell broke lose, with money disappearing into thin air. Now those practicing the dismal science calling this a panic, revised later on to calling this a depression.
Now getting back to my original point money has changed throughout the ages. Now money can even  be ones and zeros on a computer which wasn't even thought of until the latter part of the last century.
Those commentaors have a slight understanding of this, what they don't understand that quanative easing or the printing of money in zeros and and ones is just as good as carrying chickens around, because at this point in time the computer generated money had real assets to back them up.
My educated guess is that those commentaors don't comprehend what modern money is, and are still looking at what money was thought of in the late nineteenth century.
Modern money is almost as good as carrying chickens around and a little better then carrying gold coins, after all fake gold coins were common in days of yor.
Modern money right now is almost as good a storage of value as carrying those chickens around.

The point of this whole exercise is to point out that money has changed throughout the ages.
Many people have a hard time adjusting to change. Some people have a hard time thinking in modern terms especially when it comes to money.