Some general thoughts on the subject of trust.
Trust is, quite literally, the glue that holds society together. Without trust, every human interaction and relationship is impossible. Every societal framework is built on trust.
Money is built on trust. The trust that one can exchange a token of ascribed value for a good and then turn around and exchange it for some other good of equal value to the holder. Lose trust in any part of such a transaction and money becomes effectively worthless.
This is what we saw in the 2008 global financial crisis. Explained very simply, one very large financial institution lost trust in the value of the holdings of one or more other very large financial institutions and basically said, “I don’t trust the value of what you are using to guarantee your money” The moment that trust was lost, the entire financial system collapsed.
The Great Depression was caused by people losing trust in the stock market, banks, and other financial vehicles.
All war begins when one country/society loses trust in another. The Russians invaded Ukraine because they no longer trusted it would not join a perceived enemy. The Israelis do not trust the Palestinians and vice versa. The early United States 13 colonies lost trust in the government of England.
The rise and fall of the Roman Empire? Et tu Brute?
All of this is to point out that a loss of trust in society — trust in government, trust in institutions, trust in each other — is the cause of a break down and, if left uncorrected, end to that society. Period. There is no “but”. You can not have a society without it. Society rises and falls on the strength of it.
Consider where we are as a nation — a people — today and make of this fact what you will.
