There is no “ultimate ruler” which does not itself expand and contract while you use it. That is impossible. Value is contextual, and the context in a global marketplace changes every microsecond. The only thing you can hope for is reasonably stable ways of measuring things, but ultimately whatever you use to measure is itself subject to speculation, etc.
I suspect that “currency” will evolve into shares of mutual funds which are in turn combinations of many, many instruments all hedged against each other.
There is no “ultimate ruler” which does not itself expand and contract while you use it. That is impossible. Value is contextual, and the context in a global marketplace changes every microsecond. The only thing you can hope for is reasonably stable ways of measuring things, but ultimately whatever you use to measure is itself subject to speculation, etc.
So the desire to understand something, ultimately relate it back to reality via an objective process can only leave you with the hope for a reasonably stable way of measuring things? Reality, as it relates to money, is itself subject to speculation?
Are you suggesting that the context of a global marketplace which changes every microsecond may be akin to being unable to step into the same river twice?
So the desire to understand something, ultimately relate it back to reality via an objective process can only leave you with the hope for a reasonably stable way of measuring things? Reality, as it relates to money, is itself subject to speculation?
Are you suggesting that the context of a global marketplace which changes every microsecond may be akin to being unable to step into the same river twice?
I’m not exactly sure what you are trying to say, but Heraclitus’ river is very much akin to the “dollar” or an “ounce of gold” or a “share of FB”. All of these things have a definite identity (unlike what Heraclitus implied) yet have attributes (viz. their value) which constantly change…
Actually, I’m not really sure where you were going with that… 
I’m trying to determine the correct questions to ask to better understand and reveal the various positions I encounter.