Comments on: Where does Money come from? http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from Distributed Action Research blog by Andy Roberts Wed, 01 Feb 2012 10:31:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Senate to decide on Dream Act, don’t ask repeal – Los Angeles Times | Breaking News http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-110773 Senate to decide on Dream Act, don’t ask repeal – Los Angeles Times | Breaking News Sat, 18 Dec 2010 09:21:55 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-110773 [...] Where does money come from? [...] [...] Where does money come from? [...]

]]> By: Cota http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-103252 Cota Thu, 01 Apr 2010 09:23:37 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-103252 Your comment "The opposable thumb left over from gripping tree branches was a big help..." isn't quite correct. If the 'opposable thumb was 'left over' then why can't other primates oppose their thumb still? What you meant to say was that we adapted our gripping thumb into one that could oppose. The ability to oppose a thumb would obviously allow for more careful manipulation of items and objects, possibly increasing our mental perception of things by being able to study them and ask the vital question, "what?" and, ultimately "why?". Money in todays world comes from interest! In comparison, the amount of zeroes does in no way represent the actual money used or available. No money is based on the quantity of base metal it used to represent any more. A bank note is no longer redeemable in gold. in fact, if you look at one right now, you will see it clearly stated, 'I promise to pay the bearer on demand the sum of...' The bearer of what? The very note you are holding! So then YOU are the bearer. Which makes that now redundant, scruffy piece of paper you prostituted yourself for an I.o.u. Sorry to destroy your perceptions and concepts but you should take a look at these links; The Zeitgeist movement; The Venus project. It's time to stand up Human, and claim back our identity. Your comment “The opposable thumb left over from gripping tree branches was a big help…” isn’t quite correct. If the ‘opposable thumb was ‘left over’ then why can’t other primates oppose their thumb still? What you meant to say was that we adapted our gripping thumb into one that could oppose. The ability to oppose a thumb would obviously allow for more careful manipulation of items and objects, possibly increasing our mental perception of things by being able to study them and ask the vital question, “what?” and, ultimately “why?”.

Money in todays world comes from interest! In comparison, the amount of zeroes does in no way represent the actual money used or available. No money is based on the quantity of base metal it used to represent any more. A bank note is no longer redeemable in gold. in fact, if you look at one right now, you will see it clearly stated, ‘I promise to pay the bearer on demand the sum of…’ The bearer of what? The very note you are holding! So then YOU are the bearer. Which makes that now redundant, scruffy piece of paper you prostituted yourself for an I.o.u.

Sorry to destroy your perceptions and concepts but you should take a look at these links; The Zeitgeist movement; The Venus project. It’s time to stand up Human, and claim back our identity.

]]> By: loxxy http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-93377 loxxy Sat, 21 Nov 2009 18:54:19 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-93377 where does money go when it has been printed though??? where does money go when it has been printed though???

]]> By: Money Myths Podcast http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-51833 Money Myths Podcast Mon, 10 Nov 2008 11:31:59 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-51833 <p>I have a booklet about this subject which can be found at <a href="http://moneymyths.org.uk/pdf/WhereDoesMoneyComeFrom.pdf">moneymyths.org.uk/pdf/WhereDoesMoneyComeFrom.pdf</a>. I think you might find it interesting.</p> I have a booklet about this subject which can be found at moneymyths.org.uk/pdf/WhereDoesMoneyComeFrom.pdf. I think you might find it interesting.

]]> By: Conrad Taylor http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-49101 Conrad Taylor Tue, 14 Oct 2008 08:42:30 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-49101 Though gold and sliver have played important roles historically as the basis of currency, the values of these metals have varied in relation to each other (e.g. in the bimetallic trading sphere of mediaeval Islam) and to the value of other goods. In Africa, in some areas, cowrie shells were used as currency (the Ghanaian currency is still called 'cedi' after this), and I presume the key attribute was that you can't set up a workshop to make cowrie shells, so the relative constancy of supply was a guarantor of the value of the means of exchange. Goitein's researches into Geniza records of the Jewish community of mediaeval Cairo reveals a number of interesting twists. Firstly, all kinds of coins were in circulation and the weight and purity of the coin was more important than face value. You could take coins to a money-changer who for a fee would perform the service of weighing the coins, sealing them in a purse and providing a certificate attesting to the value, so the purse could be used in a transaction. Also, a gold dinar or silver dirham had ridiculously more purchasing power than one could spend on a trip to the grocer's, so most families bought on credit and settled at the end of the month. This source reveals also the growth of the use of credit and accountancy rather than hard cash. In the 9th century one could pay for goods in China with a cheque (the origin is Arabic: <i>sakk</i>) drawn on a bank in Baghdad, and a traveller attests to an account in a West African trading station being settled with a cheque for 40,000 dinars. The cheques in the Cairo Geniza records are remarkably similar to our own. Though gold and sliver have played important roles historically as the basis of currency, the values of these metals have varied in relation to each other (e.g. in the bimetallic trading sphere of mediaeval Islam) and to the value of other goods. In Africa, in some areas, cowrie shells were used as currency (the Ghanaian currency is still called ‘cedi’ after this), and I presume the key attribute was that you can’t set up a workshop to make cowrie shells, so the relative constancy of supply was a guarantor of the value of the means of exchange.

Goitein’s researches into Geniza records of the Jewish community of mediaeval Cairo reveals a number of interesting twists. Firstly, all kinds of coins were in circulation and the weight and purity of the coin was more important than face value. You could take coins to a money-changer who for a fee would perform the service of weighing the coins, sealing them in a purse and providing a certificate attesting to the value, so the purse could be used in a transaction. Also, a gold dinar or silver dirham had ridiculously more purchasing power than one could spend on a trip to the grocer’s, so most families bought on credit and settled at the end of the month.

This source reveals also the growth of the use of credit and accountancy rather than hard cash. In the 9th century one could pay for goods in China with a cheque (the origin is Arabic: sakk) drawn on a bank in Baghdad, and a traveller attests to an account in a West African trading station being settled with a cheque for 40,000 dinars. The cheques in the Cairo Geniza records are remarkably similar to our own.

]]> By: How is wealth destroyed and where does wealth come from? http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-48847 How is wealth destroyed and where does wealth come from? Sat, 11 Oct 2008 15:13:43 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-48847 [...] the first post of this series I asked “where does money come from” and gave a brief history of the origins of money in the form of precious metal coins used to [...] [...] the first post of this series I asked “where does money come from” and gave a brief history of the origins of money in the form of precious metal coins used to [...]

]]> By: John Pash http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47631 John Pash Mon, 29 Sep 2008 09:59:24 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47631 Now can you explain where my money GOES?! That's a mystery I would like to be solved :) Now can you explain where my money GOES?! That’s a mystery I would like to be solved :)

]]> By: Alexis Bellido http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47283 Alexis Bellido Fri, 26 Sep 2008 14:41:11 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47283 That's a wonderful look at money's history Andy. Thanks for sharing. That’s a wonderful look at money’s history Andy. Thanks for sharing.

]]> By: Craig http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47264 Craig Fri, 26 Sep 2008 14:04:47 +0000 http://distributedresearch.net/blog/2008/09/26/where-does-money-come-from#comment-47264 <p>Thanks for the info Andy Roberts. Always love reading your blog. Your writing is brilliant and one can always rely on interesting topics.</p> Thanks for the info Andy Roberts. Always love reading your blog. Your writing is brilliant and one can always rely on interesting topics.

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