People who have done their Financial education, have to know what Gresham’s Law in, especially in the times we live in. In Roman Times, (we are still in them, you just don’t know it..), they used good money to drive out bad money.
How does this work? Well, with the gold coins, they kept sneakily shaving off the gold, until there was nothing left.
So they had to start putting ridges in, to prevent this. And those at the mint starting thinking about how to produce copper coins and have them gold plated. The biggest scam of them all. Over time, people were trusting their merchants less and lesser, (sound familiar on the same ROMAN BANKING SYSTEM we have today..?), and found they had been cheated.
So how does this law affect your business and money?
Well, if your business does not have a foundation, you will never be profitable. Most people go into Business haphazardly and just think it is about exchanging value for goods and services. At the base level, it absolutely is, but when you look at people who have achieved a remarkable level of Financial success, it is because they have very strong financing structures behind them in order to do so. A lot of people do not realise that you cannot build a business minus a very strong foundation (which is your brand). Gresham’s Law can be used in many areas of your life. You see a restaurant open up and you see their sandwiches packed with chicken from the start, as time goes on, you see more bread, less chicken? That’s the law in full effect.
Money has this really strange energy that over my studying of it, I have come to find. The more you need money, (scarcity vibration), the less you actually seem to find or attract it. And the less you seem to want it, the more people will give it to you, without asking. All money possesses an energy and all people do too. I have never seen a wealthy person stressed about anything Financial, and this is why finances flow to them.
As the old saying goes “Where there is no need, there is no greed”. I once asked a con man I knew (I have known a few hundred of them…) and he said “I cannot con anyone who doesn’t have greed inside them”. That really struck me hard because if someone isn’t after making a quick buck, it is VERY true that they cannot be conned. Cons are always in such a rush to sell you the scam, that people who are truly able to overcome their greed, actually overcome the ability to be scammed.
Gresham’s Law is also someone who is fixated in a poverty mindset. Someone who is heavily in a poverty mindset, who struggles with money will absolutely tell you that the truth is that there is never enough money.
However ask a rich man, and you will get a totally different answer. You will get an answer of abundance, wealth and satisfaction. You will get an expansive answer, in short. Fixing your money issues around the Truth of money, takes its own sweet time because you need to first unlearn EVERYTHING YOU HAVE LEARNED ABOUT MONEY.
Do as much emotional work on yourself as you begin to think of launching the business. If you are currently in startup stage, do your best to keep doing this work. Business is a torch shiner, it does everything under the sun to bring up all your latent issues around wealth generation, money and finances because you no longer are in a job trap and you have real freedom.
Make Gresham’s Law work for YOU.
I would love to hear your comments below 🙂
