So let me get this straight. I want a new TV, I gives you some of this, you give me some of that, GREAT IDEA.
at the end of the day we all have paper and metal rattling around in our pocket, not nearly as good as a tv
So let me get this straight. I want a new TV, I gives you some of this, you give me some of that, GREAT IDEA.
at the end of the day we all have paper and metal rattling around in our pocket, not nearly as good as a tv
It was another one of Obama's stupid liberal ideas
Carrying TVs around in your pocket to buy lunch can be... cumbersome.
(economist)
John Law is one of the fathers of the modern money system - some fascinating books about his life. he persuaded many kings to try money...and many tried. Most eventually started cheating by devaluing money in some way.
all currencies die at some point.
Q: Who came up with the idea of "money" anyway?
A: Lots of theories on this. I'll go with the Phoenicians.
Doesn't exactly answer the OP's question, but here's a podcast on the origins of US Federal currency that's worth a listen:
http://www.npr.org/blogs/money/2012/12/07/166747693/episode-421-the-birth-of-the-dollar-bill
You see, a really long time ago early humans like shiny things like gold and silver. Most animals still do. But trading in heavy metal which we put value on was too difficult to carry around so they came up with the paper concept. You could take this piece of paper and turn it into a bank and get your silver or gold. Then in the 1960's they did away with that and we are stuck with a piece of paper. But really we don't even have that anymore, it is some imaginary number in a computer server somewhere.
I'll trade you three oxen, two goats, and eight chickens if you help me build a barn.
The inventor was the first guy who traded a nice little stone for a quickie.
Thanks Obama!
agip wrote:
http://en.wikipedia.org/wiki/John_Law_(economist)
John Law is one of the fathers of the modern money system - some fascinating books about his life. he persuaded many kings to try money...and many tried. Most eventually started cheating by devaluing money in some way.
all currencies die at some point.
Silly comment. Everything eventually dies at some point - empires, nations, species, planets...
What the What wrote:
agip wrote:http://en.wikipedia.org/wiki/John_Law_(economist)
John Law is one of the fathers of the modern money system - some fascinating books about his life. he persuaded many kings to try money...and many tried. Most eventually started cheating by devaluing money in some way.
all currencies die at some point.
Silly comment. Everything eventually dies at some point - empires, nations, species, planets...
and your comment isn't sillier?
well fine, yes, everything dies, but if the average person read the history of money failures s/he would have mucho less confidence in the dollar or euro. I think people attribute too much strength and permanence to money.
Gold is money and nothing else.
DAMN YOU OBAMA!!
Sketic of it All wrote:
You see, a really long time ago early humans like shiny things like gold and silver. Most animals still do. But trading in heavy metal which we put value on was too difficult to carry around so they came up with the paper concept. You could take this piece of paper and turn it into a bank and get your silver or gold. Then in the 1960's they did away with that and we are stuck with a piece of paper. But really we don't even have that anymore, it is some imaginary number in a computer server somewhere.
Mostly correct, but a bit off on the date.
Gold notes (exchangeable for gold coins) were removed from the public in 1933. After that, the bills were just paper for U.S. citizens.
Silver continued to be used in the coinage through 1964-dated pieces. Until then, dimes/quarters/etc were 90% silver. That was eliminated in the 1965-dated coins, and replaced with a coppy/nickel clad. The half dollar lasted through 1969 with a reduced 40% silver content. The silver was eliminated in 1970.
Finally, on Aug 15, 1971, the US stopped allowing foreign countries to covert their US dollars into gold.
And now it's all paper and cheap base metals. Ta da!
I beleive the first money was salt. Money is/was great because it eliminated the challenge of a double coincidence of want. You had to find some who had what you wanted and needed what you have.
With craiglist and easy communication, the option of working off trade, and the need for money, becomes more viable
Sketic of it All wrote:
Then in the 1960's they did away with that and we are stuck with a piece of paper.
Not in the the UK. Every time I go I end up with holes in my pockets from carrying damn pound coins around.
Whores. A bunch of whores invented the concept. As you know, prostitution is the oldest profession. There came a time they got tired of taking dried fruit and weak wine in exchange for their services.
They all got together, formed a cabel and decided to invent a new way to measure their worth; money. The rest is history.